Home / Knowledge / News / Apparel/Garments / Exports from Guangdong feel pinch of global turmoil
Exports from Guangdong feel pinch of global turmoil
01
Nov '08
Under the shadow of volatility in global economy, exports from Guangdong province are witnessing a negative trend. In the first three quarters of 2008, from among those companies from Guangdong which had exported last year, 6823 companies have dropped from the list in the current year of which 3499 are from the private sector.

According to records of the Guangzhou Customs Statistics Office, in first nine months of current year, exports registered US $301 billion, a year-on-year increase of 13.5 percent but the growth rate fell 10.9 percent from the same time last year. These exports accounted for 28 percent of the country's total exports.

Data shows that exports by SMEs in Guangdong dropped significantly. In the period under review, 18,000 SMEs from the private sector shipped products worth $10 billion of which 47 enterprises cumulatively achieved an export value of US $100 million, while 9800 enterprises realized an export value of less then US $1 million to collectively reach $3.14 billion.

Clothing, footwear, furniture, textile yarns and toys constitute five categories of the largest and traditional light industrial products in Guangdong's basket of exports. However, in the first three quarters, Guangdong garment exports totaled to nearly $18 billion, down by 30 percent.

It is learned that exports to the main global markets from Guangdong have shown signs of slowing down this year. In the period Jan-Sept, export growth rates of Guangdong to most markets lowered significantly, however shipments to the EU and South Korea increased corresponding to the same period of 2007. Growth rates to the two major emerging markets of Latin America and Africa also fell sharply by 22.9 and 40 percent.

Fibre2fashion News Desk - China

Must ReadView All

Neelesh Hundekari speaking at the event. Courtesy: Subir Ghosh

Textiles | On 27th May 2017

Fabric of Change initiative announces €250000 scaling fund

The Fabric of Change initiative of Ashoka and the C&A Foundation is...

Pakistan's Finance Minister Mohammad Ishaq Dar presenting Budget 2017-18 in National Assembly in Islamabad on May 26. Courtesy: PID, Pakistan

Textiles | On 27th May 2017

Pakistan Budget 2017-18 proposes 4 new measures

To support the textile sector in Pakistan, finance minister Mohammad...

Textiles | On 27th May 2017

Indian exports can touch $325 bn in 2017-18: FIEO

Indian exports are on upward trend in last few months as the country...

Interviews View All

Pinkesh Jain
Everflow Petrofils Ltd

‘An innovative technology which India needs desperately is the...

Manfred Mentges
Sedo Treepoint GmbH

We see a higher demand in colour management systems, as customers see big...

Manuj Terapanthi
Texaura

Transparent supply chain and fair trade will boost sustainable market

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer <b>Prathyusha Garimella</b> is known for blending ...

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

news category


Related Categories:
May 2017

May 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search