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Textile and apparel exports drop significantly in Jan-Feb
16 Mar '09
1 min read
According to statistics released by the General Administration department, China's total of textile and apparel exports registered US $21.903 billion in the first two months of 2009, a drop of 14.54 percent year-on-year.
From amongst overall exports from the sector, textile exports totaled $7.286 billion and apparel exports marked $14.617 billion, representing a negative growth rate of 20.06 percent and 11 percent, respectively.
Orders received in the fourth quarter of 2008 reduced sharply and in most cases foreign trade orders are received 2-4 months in advance, therefore the substantial reduction in exports from the sector in January to February is reasonable.
But since the beginning of 2009, exporting companies have reported to have received a good amount of orders for completion in the next 3-4 months, which is expected to improve the rate of exports in the next few months.
In addition, the domestic apparel market demand is displaying a relatively high level of sales, which has raised the hopes of exporters who had diverted a percentage of excess capacities for domestic consumption.
From amongst overall exports from the sector, textile exports totaled $7.286 billion and apparel exports marked $14.617 billion, representing a negative growth rate of 20.06 percent and 11 percent, respectively.
Orders received in the fourth quarter of 2008 reduced sharply and in most cases foreign trade orders are received 2-4 months in advance, therefore the substantial reduction in exports from the sector in January to February is reasonable.
But since the beginning of 2009, exporting companies have reported to have received a good amount of orders for completion in the next 3-4 months, which is expected to improve the rate of exports in the next few months.
In addition, the domestic apparel market demand is displaying a relatively high level of sales, which has raised the hopes of exporters who had diverted a percentage of excess capacities for domestic consumption.
Fibre2fashion News Desk - China
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