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Asean is important market for China's knitting industry
06
Jun '16
The ten-nation Asean region has become an important market for China's knitting industry, the China Knitting Industrial Association (CKIA) has said.
 
In 2015, the export of knitted fabric to the Asean region amounted to nearly $4.84 billion, up 84.69 per cent over 2011, growing annually at average rate of 16.58 per cent, and accounting for 33.08 per cent of the total export of knitted fabric from China, Lin Guangxing, vice chairman of CKIA, said while presenting a review of achievements of the knitting industry during the 12th Five-year Plan period (2011-2015), at the 6th Board meeting of CKIA.
 
Last year, China's export of knitted garments to Asean nations were valued at $5.197 billion, up 35.98 per cent over 2011, with annual average growth rate of 7.99 per cent, accounting for 7.3 per cent of China's total export of knitted garments, Guangxing said citing data from the General Administration of Customs.
 
China's knitting industry exports stood at $109.69 billion in 2013, and $106.14 billion in 2014, accounting for more than one-third of China's textile and garment exports during those years. In 2015, exports were around $98.44 billion, showing 8.33 per cent growth over 2011; while knitted garments export achieved 3.14 per cent growth, knitted fabric export grew at 36.74 per cent.
 
Destination-wise, Europe, the US and Japan remained the top three markets for Chinese knitted goods exports in 2011-15 with respective share of 17.36 per cent, 11.88 per cent and 9.53 percent.
 
During the five-year period from 2011 to 2015, Chinese knitting industry developed steadily, backed by globalisation and technological progress.
 
In 2015, there were 5,739 knitting enterprises with annual revenue of more than 20 million yuan. The operating revenue of these enterprises was around 717.26 billion yuan, registering a growth of 24.42 per cent over 2011, growing annually at compound rate of 5.61 per cent, as per data from the National Bureau of Statistics.
 
The total profit of these enterprises was up 38.25 per cent over 2011, growing at a slower pace compared to the previous five-year period.
 
China's domestic market also played an important role in the development of the knitting industry during the five-year period, with 72.62 per cent production of large-scale enterprises sold in domestic market in 2015, compared to 64.48 per cent in 2011. (RKS)
 

Fibre2Fashion News Desk – India


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