Domestic sales rescue Chinese textile & apparel sector

Growth rates of the Chinese textile and apparel export sector have sharply declined in the current year from a year earlier. However domestic sales rescued the industry.

Textile and garments export shipments stood at US $90.642 billion in first five months of 2012, up just 2 percent from a year ago.

Of which, textile exports touched $28.072 billion, a rise of a marginal 1.4 percent and that of garments and accessories reached $52.57 billion, an increase of 2.5 percent.

Transaction value at recently concluded 111th Canton Fair was not encouraging. Export business deals worth only $2.29 billion could be stuck, down 12.3 percent year on year.

However, domestic retail sales kept the momentum. Textile, clothing and footwear retail sales of big and major enterprises touched 72 billion Yuan in May, a rise of 19 percent year on year.

Fibre2fashion News Desk - China