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Taiwanese textile sector overcomes global economic woes
24
Nov '11
The Taiwan textile industry has not been impacted much from the economic troubles in western markets in the third quarter of the current year, data from Ministry of Economic Affairs reveals.

Total output value of Taiwan textile industry reached NT $122.6 billion in the third quarter, down by just 1 percent. The annual output value is estimated to touch NT $506 billion, up 4.9 percent.

Of the output value in the third quarter, output value of man-made fiber industry was NT $39.1 billion, up 2.2 percent year-on-year, accounting for 32 percent of total output value of the entire textile industry.

Output value of the spinning, weaving and fabric processing sectors touched NT $75.3 billion, down 2.9 percent year-on-year and accounting for 61 percent of total output value of the entire textile industry.

Output value of clothing and accessories industry was NT $8.1 billion, an increase of 1.8 percent year-on-year, accounting for 7 percent of total output value.

Explaining the reasons, Li Xin Hong of Taiwan Textile Office said, “Taiwan textile industry did not sharply decline upon concerns of international economy, but over the same period, output value of man-made fibres textile industry fell 6 percent from the previous quarter”.

He attributed this to slow recovery of the global economy and softening prices of raw materials.

He added, “Garment industry realized an outstanding performance in the third quarter. The main reasons are that wage costs in mainland China continued to rise, gradually reducing its cost competitiveness.

“In the same period, consumer demand for mid-priced clothing grew, which prompted retailers like Uniqlo and Zara to shift their orders to manufacturers in Taiwan who have the ability to produce clothing at cost-effective prices”.

Li Xin Hong pointed out that the annual output value of Taiwan textile industry is estimated to reach NT $506 billion in 2011, an annual increase of 4.9 percent.

Fibre2fashion News Desk

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