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Chinese textile & clothing exports face myriad challenges
09
Apr '12
In the first two months of 2012, China's textile and apparel exports to the EU fell 12.7 percent year on year. Exports to Canada, Australia, Korea, Hong Kong, Macao, Taiwan and other developed countries and regions also experienced year-on-year decline.

Although exports to the United States and Japan achieved some growth year on year, annual growth rate fell 0.8 percent and 6.4 percent, respectively.

Analysts attribute the demand fall mainly to reduced demand from global markets, continued escalation of the debt crisis in Europe, instability of world economic recovery, increased uncertainty and weak recovery of US and European economies.

To add to the difficulties of exporters, spread between domestic cotton and imported cotton was greater, which affected global competitiveness of the Chinese textile industry.

During the current cotton season, China's domestic cotton price has maintained at 19,500 Yuan / ton, which is about 3,000 Yuan / ton higher than imported cotton. Due to imports quotas, the Chinese textile industry is also not able to import low-priced cotton.

In the period, due to the impact of fall in global cotton prices, prices of imported cotton yarn too dipped 15.1 percent and import volume rose 26.2 percent. At the same time, export volume of cotton yarn declined 19.3 percent year on year.

These export units also faced difficulties in generating adequate credit, which also led to higher costs in accessing capital, since they have to opt for high interest rates than the benchmark rates, the analysts added.

Fibre2fashion News Desk - India

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