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Pace of Chinese clothing imports outstrip exports
06 Jun '11
1 min read
Although China is the biggest clothing exporter in the world, its garment imports, have risen sharply in the first four months of the current year.
In the period January to April, apparel imports shot up to US $1.05 billion, up an impressive 62 percent, from a year ago, according to customs-based statistics.
In the same period, apparel and accessory exports registered US $39.57 billion, up 22.9 percent year on year.
The biggest impact on clothing imports was mainly due to higher purchasing power among Chinese, which led to higher inwards shipments of luxury brands.
The second major factor was imports from low cost countries like Vietnam and the last but not the least, flood of imports from ASEAN countries, with which China has signed a free trade agreement.
Imports from Italy grew 66 percent to $197.77 million, while imports from ASEAN grew nearly two-fold to $129.86 million, of which Vietnam rose about 2.7 times to $36.58 million.
Editorial note –
Considering that apparel exports peaked at $39.57 billion in the first four months of 2011, imports at just $1.05 billion seem negligible. But the growth rate at which imports grew in the period, merit attention.
In the period January to April, apparel imports shot up to US $1.05 billion, up an impressive 62 percent, from a year ago, according to customs-based statistics.
In the same period, apparel and accessory exports registered US $39.57 billion, up 22.9 percent year on year.
The biggest impact on clothing imports was mainly due to higher purchasing power among Chinese, which led to higher inwards shipments of luxury brands.
The second major factor was imports from low cost countries like Vietnam and the last but not the least, flood of imports from ASEAN countries, with which China has signed a free trade agreement.
Imports from Italy grew 66 percent to $197.77 million, while imports from ASEAN grew nearly two-fold to $129.86 million, of which Vietnam rose about 2.7 times to $36.58 million.
Editorial note –
Considering that apparel exports peaked at $39.57 billion in the first four months of 2011, imports at just $1.05 billion seem negligible. But the growth rate at which imports grew in the period, merit attention.
Fibre2fashion News Desk
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