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China-Asean textile trade doubles since 2005
02
Mar '13
The bilateral textile and apparel trade between China and Asean countries has increased rapidly since the signing of the China-Asean Free Trade Area in 2005.
 
In 2005-2011 period, China-Asean bilateral trade volume more than doubled, growing at an annual rate of 23.1 percent. While China’s exports to Asean nations rose at an average of 23.4 percent year-on-year, its imports from Asean countries grew at an average of 20.2 percent year-on-year.
 
In 2012, China’s textile and apparel exports to Asean nations totaled US$ 26.66 billion, accounting for 10.5 percent of China’s total textile and garment exports.
 
Last year, China’s textile and clothing exports to Asean countries registered an increase of 34.2 percent year-on-year, which was 2.5 percent more than the growth rate achieved in 2011.
 
Thus, Asean has become a major contributor to growth of China’s textiles and apparels over the years since 2005.
 

Fibre2fashion News Desk - China

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