Chinese textile exports see double-digit drop in Oct '15

During the month, China's total textile and apparel exports stood at $23.66 billion, showing a drop of 10.9 per cent year-on-year. Of this, textile exports decreased by 5.5 per cent to $9.21 billion while apparel exports fell 13.9 per cent to $14.45 billion, according to the data released by the General Administration of Customs.

Cumulative exports of textile and apparel from January to October this year now stands at $234.98 billion, down 5.4 per cent year over year. Of this, textile exports earned $91.06 billion, registering a fall of 1.9 per cent, whereas apparel exports accounted for $143.92 billion, down 7.5 per cent.

In 2014, textile and clothing exports fetched $298.4 billion for China, but analysts point out that comparative advantage of China's textile industry is gradually weakening due to high labour and energy costs, exchange rate fluctuations and other factors.

One of the reasons for the decline in China's textile and garment exports so far this year the poor economic environment in both domestic and export markets. Except for the US, demand recovery fell in all major Chinese export markets. On the domestic front, issues being faced by textile enterprises like difficulties in financing have not yet been effectively addressed, which is affecting the export initiative, according to analysts. (RKS)

Fibre2Fashion News Desk – India