In the first three quarters of 2009, China's textile and clothing exports registered US $121.6 billion, down 11.2 percent year on year, of which exports of textiles and apparel decreased by 13 percent and 10 percent.
In October, the declining pace began to shrink. With the recovery of major economies, experts believe that 2010 exports are expected to achieve positive growth, but in the long run, production of textiles and clothing is always transferred to low-cost areas.
Unfortunately, China no longer has this advantage. The current trends indicate that other lower cost countries like Bangladesh and Vietnam have been able to reap the benefits of the low-cost structure prevalent in their respective countries.
With regards to the domestic markets, it is expected that, growth in disposable incomes leads to higher consumer spending, which is again mainly on clothing and luxury goods, which will increase the focus on brand experience, personalization, and leisure-oriented clothing.
The recovery of market demand in 2010 will greatly enhance the industry's overall profitability. 2010 will be a year for rapid development of domestic branded apparel and clothing manufacturers are expected to take full advantage to offset import slowdown.
Fibre2fashion News Desk - China
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