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Domestic market saviour of clothing sector
27
Jan '10
In 2009, China's growth of domestic textile and apparel sales reached 20 percent, which proved to be a rainbow for the industry in an otherwise dark clouded 2009, which was hit by a slowdown in overseas markets.

The biggest benefit that the sector has is the huge population of 1.3 billion. In 2009, per capita fiber consumption was 14.6 kilograms, 34 percent higher than the world average, but still significantly lagging behind developed countries.

However, development of China's textile industry faces geographical imbalance between urban and rural areas. In 2009, per capita expenditure of China's urban residents on clothing was 1,042 Yuan, while per capita expenditure of rural residents on clothing was 193.4 Yuan.

At present, China accounts for 25 percent of global luxury goods market, for the first time surpassing the United States, which has been pushed to the second place in consumption of luxury goods in the world.

Fibre2fashion News Desk - India

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