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Chinese textile, garment exports surge in last 10 years
19
Apr '12
The Chinese textile and garment industry has made rapid strides in the last one decade. Exports from the industry reached US $206.5 billion in 2011 against just $56 billion in 2000, surging by an annual 16.4 percent.

China's textile and garment exports accounted for 15.6 percent of global exports in 2001, but the share increased to 32.71 percent in 2010. Among every three garments manufactured in the world, one was produced in China.

Apart from having the distinction of having the world's largest textile and clothing industry, the country has also become world's largest apparel consuming country. It also has the feature of being the number one Chinese industry to post a trade surplus for five consecutive years.

At the beginning of the 21st century, sales income of China's largest garment enterprise was less than 5 billion, but in 2007, sales revenue of China's largest apparel enterprise was nearly 20 billion Yuan.

However, export growth from the sector has been falling since mid-2011. Rising wages too have proved to be a stumbling block, for one of the most competitive global producer of low-end garments.

In the Chinese domestic market, global brands like Nike, Adidas and others are steadily moving from China's first-tier cities into second-tier and third-tier cities and in the process creating more competition for local clothing brands.

However on a positive side, Chinese home-grown brands are also eyeing global expansions by opening stores or setting up distribution channels in US and European countries.

Fibre2fashion News Desk - China


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