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Ningbo city arrests decline in growth of exports from T&G sector
16
Feb '09
Textile and garment exports from Ningbo, grew by 1.8 percent to touch US $820 million in January 2009, when compared to January 2008 and rose by 0.2 percent from the previous month, thus extending its gain since December last year.

The government has gradually increased export rebate rate on textiles and garment from 11 percent to 14 percent till December 2008, which has led to rebound in exports from the sector in Ningbo city.

Shipments from textiles touched $250 million in January, down 15.7 percent while clothing and accessories exports fetched $570 million, an increase of 11.8 percent, of which exports to the EU marked $270 million an increase of 8.6 percent.

However a sterling performance was delivered in shipments to the markets of the US and Japan. Exports to US marked $110 million and Japan $100 million to deliver a growth of 14.5 percent and 21.8 percent, respectively.

The government policies to promote exports from the industry seem to have served their purpose as the decline in growth rates seen in the last few months of 2008, seems to have been arrested at least for the present, particularly in the case of Ningbo city.

Fibre2fashion News Desk - China

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