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China's textile exports to EU see double-digit dip in 2012
01 Mar '13
1 min read
The exports of textiles and clothing by China to the EU witnessed a double-digit decline in 2012, according to relevant data.
Last year, China exported US$ 47.09 billion worth of textiles and apparels to the EU, showing a drop of 11.9 percent year-on-year.
In comparison, Chinese textiles and garment exports to the EU had fallen by 5.7 percent and 13.6 percent, respectively, during the financial crisis years of 2008 and 2009.
In 2012, Chinese textile and apparel exports to the EU had declined both in volume and prices. The exports of yarn dipped 0.6 percent year-on-year in volume and 14.5 percent y-o-y in price.
Similarly, the exports of knitted and woven garments from China to the EU had declined by 11.5 percent y-o-y in terms of volume and 2.7 percent in price, during the year.
Experts attribute the decline in Chinese textiles and apparels to the recession in the EU economy, which saw an increase in inflation and unemployment rates last year.
Fibre2fashion News Desk - China
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