China's textile & apparel exports grow 5.09% in 2014

27 Jan '15

2 min read

The exports of textiles and clothing items from China increased by 5.09 per cent in dollar terms last year, according to the data released by the General Administration of Customs.

In 2014, China’s textile and apparel exports fetched US$ 298.427 billion, registering a growth of 5.09 per cent year-on-year. Of this, the export of textile yarn and fabric accounted for $112.142 billion, showing an increase of 4.9 per cent, while clothing and accessories exports earned $186.285 billion, up 5.2 per cent.

In terms of the Chinese currency, China’s total textile and garment exports in 2014 stood at 1.83 trillion yuan, an increase of 4.06 per cent year-on-year. Of this, yarn and fabric exports were worth 0.69 trillion yuan, up 3.8 per cent, whereas clothing and accessories exports were valued at 1.14 trillion yuan, up 4.2 per cent.

China’s textiles and clothing exports grew at a slower pace than the growth rate registered in the country’s overall exports during the year.

In 2014, the value of China’s total exports increased by 6.1 per cent to $2.34 trillion, compared to 2013. In terms of renminbi, the value of overall Chinese exports was 14.39 trillion yuan, showing an increase of 4.9 per cent.

Analysing the reasons for slower growth of Chinese textiles and apparel exports last year, department of information and statistics, China Textile Industry Association, said the international market for textiles and apparel is now more competitive.

The rise in overall cost of the Chinese textile and apparel industry, along with the fact that the international economy is in a state of slow recovery were also cited as reasons for slower growth.

China’s textile and garment export growth has been hovering in single digits for several months now, and the international and domestic macroeconomic environment is not expected to change much in near future, hence the outlook for China’s textile and garment exports in 2015 is not very optimistic, the department said. (RKS)

Fibre2fashion News Desk - India

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