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China-Australia textile & apparel trade grows
29
Nov '11
China's textile and apparel trade with Australia has grown during the initial nine months of the current year.

As revealed by the Chinese Customs statistics, the country's apparel and textile trade with Australia with a year-on-year rise of 23.4 percent grew to US$ 3.4 billion during January-September 2011.

China's exports to Australia, growing at a year-on-year rate of 23.5 percent, touched US$ 3.39 billion during the period. However, its imports from Australia remained steady at last year's corresponding period's imports worth US$ 12 million. The apparel and textile trade between the two countries is expected to touch US$ 4.5 billion by year-end.

As stated by the China Chamber of Commerce for Import and Export of Textiles (CCCT), a rapid rise has been noted in textile and apparel trade between the two countries in recent years. Over past one decade, the apparel and textile trade between the two countries has grown by almost 2.3 times from below US$ 1.15 billion in 2001 to US$ 3.79 billion in 2010, which is indicative of an average annual rise of 12.7 percent, in spite of a slight reduction in trade during 2009 owing to global financial crisis.

Australia is currently China's 10th leading textile and apparel trading partner and also the ninth largest export market. Textile and apparel trade constitutes around four percent of the overall bilateral trade between the two countries.

Fibre2fashion News Desk - China

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