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China's silk exports decline sharply in H1
22 Aug '12
1 min read
Silk exports from China showed a sharp decline during the first half of this year, mainly owing to the impact of the European debt crisis.
From January to June 2012, China exported US$ 1.582 billion worth of silk and silk items, registering a year-on-year drop of 9.79 percent.
During the six-month period, the five top markets for China’s silk were the US, India, Italy, Japan and Hong Kong.
Except for Hong Kong, China’s silk exports to the remaining four top export destinations saw a significant fall in value.
China’s silk exports to the US decreased by 10.58 percent year-on-year, while those to India, Italy and Japan reduced by 22.82 percent, 25.35 percent and 11.57 percent, respectively.
The volume of China’s silk exports declined, mainly owing to international economic situation.
The prices of certain silk export items also fell during the period, due to a fall in silk prices. The prices of cocoon and silk have fallen since they reached record high levels in July 2011.
However, the prices of grey silk fabric and silk products rose compared to the previous year.
Fibre2fashion News Desk - China
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