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Local markets saviour of Chinese textile & apparel sector
06
Feb '12
China's textile industry faced a variety of adverse factors in 2011, although from data point of view, growth of annual production, export and profit remained steady.

However, textile industry operators were under increasing pressure, especially small and medium enterprises faced numerous difficulties.

Textile and garment exports continued to grow, but the growth rate decreased rapidly after August.

According to National Bureau of Statistics, large-scale textile industry achieved an 8.3 percent increase of added value in 2011; the growth rate fell 3.3 percentage points year on year.

Production of major textile products maintained steady growth, of which, yarn production totaled 28.94 million tons, an increase of 12.4 percent year on year, growth rate fell 1.1 percentage points year on year.

Customs statistics reveal that China's annual exports of textile and apparel registered US $247.9 billion in 2011, an increase of 20 percent year on year, the growth rate fell by 3.6 percentage points from the previous year.

However, the domestic retail sector saved the day for the industry as domestic demand enhanced.

Retail sales of garment and textiles of large enterprises reached 795.5 billion Yuan, up 24.2 percent year on year.

Fibre2fashion News Desk - China

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