China's textile exports to EU & Japan drop in Jan'13

12 Mar '13

2 min read

China’s textile and apparel exports to the EU and Japan dropped in January 2013, while those to Asean and the US increased.

In January 2013, China’s overall textiles and garments trade was worth US$ 26.87 billion, showing a year-on-year growth of 17.7 percent, according to customs statistics.

Of this, exports registered US$ 24.69 billion, an increase of 14.7 percent year-on-year, while imports fetched US$ 2.18 billion, up 66.6 percent y-o-y. Thus, China realized a surplus of US$ 22.51 billion in textile and clothing trade in January, a growth of 11.4 percent y-o-y.

During the month, China’s textile exports increased by 19.6 percent y-o-y, with yarn, fabric and textile made-ups rising by 19.6 percent y-o-y, 22.8 percent y-o-y and 12 percent y-o-y, respectively. Clothing exports registered a rise of 12 percent y-o-y.

China’s textile and garment exports to the US slightly increased by 3 percent y-o-y, while its exports to Japan and the EU dipped by 9.7 percent y-o-y and 4.2 percent y-o-y, respectively. However, China’s exports to the Asean nations nearly doubled during January 2013.

During the review period, Asean accounted for 11.8 percent of China’s textile and apparel exports and the region surpassed Japan to become the third-largest importer of Chinese textiles and garments.

Chinese textile imports during the period rose by 67.3 percent y-o-y, whereas garment imports grew by 64.2 percent y-o-y. The import volume of cotton yarn reached as high as 153.8 percent, and its import price shot up by 300 percent to US$ 35,000/ton, a record high.

The volume of textile raw material imports grew by 44 percent y-o-y, while the value jumped by 21 percent y-o-y. However, the average import price of cotton declined by 22.3 percent y-o-y to US$ 1870/ton, which led to a 73.7 percent y-o-y surge in its imports during the month.

Fibre2fashion News Desk - China

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