Home / Knowledge / News / Textiles / Weakening Japanese yen impacts Chinese textile exports
Weakening Japanese yen impacts Chinese textile exports
03
May '13
The weakening of Japanese currency against Chinese yuan is impacting Chinese textile suppliers and traders, who are already exporting to Japan on meager profit margins.
 
Over the last six months, Japanese yen has weakened by more than 20 percent against the Chinese renminbi.  One Chinese yuan was traded at 12.84 Japanese yen on November 3, 2012. The exchange rate was 13.92 yen on December 31, 2012 and as on May 1, 2013, the rate was 15.92 yen for one Chinese yuan.
 
As a result, some small-scale suppliers and Japanese buyers who were unable to withstand losses have exited from the market.
 
Meanwhile, large-scale suppliers in China and traders in Japan are also feeling the pinch due to declining profit margins created by yen depreciation.
 
In view of the situation, Chinese clothing exporters have reduced the prices of their clothing to a maximum possible extent, and hence, the Japanese market would now have to increase its textile and clothing retail price, to carry on normal Sino-Japanese textile trade, according to Chinese experts.
 
The impact of weakening Japanese yen vis-à-vis Chinese renminbi was also visible at last month’s China Textiles and Clothing Fair, held in Japanese city of Osaka.
 
At the fair, sponsored by the Japan-China economic and trade centre, 258 Chinese companies and one Korean company operating from China showcased their latest products and services.
 
These exhibitors account for about US$ 2.5 billion worth of annual exports to Japan, which is about 10 percent of China’s garment exports to Japan. However, only 5,360 businessmen visited the fair, same as the number of traders visiting the last Osaka fair.
 
In March 2013, China’s textile and apparel exports to Japan fell by 10.5 percent year-on-year, according to China’s customs statistics.
 

Fibre2fashion News Desk - China


Must ReadView All

Digital textile printing sector to grow by 20% by 2020

Textiles | On 18th Jun 2018

Digital textile printing sector to grow by 20% by 2020

The digital textile printing sector is expected to have a compound...

Courtesy: Hela Clothing

Apparel/Garments | On 18th Jun 2018

Hela's latest label revolves around underwear, sleepwear

The latest collection of Sri Lanka’s Hela Clothing is revolves mostly ...

Kenya levies higher duties on mitumba import

Apparel/Garments | On 18th Jun 2018

Kenya levies higher duties on mitumba import

Kenya’s treasury secretary Henry Rotich recently raised the duty on...

Interviews View All

Jim Desai
Blaiva Fabricaa

Fashion industry likely to remain labour-intensive in coming years

Top executives
Indian retail players

Walmart's acquisition of Flipkart endorses the humongous opportunities in...

Binoy Ravjani
Hero's Fashion

‘One of the recent trends in hand block printing is the indigo process,...

Sugandha Bhardwaj

<div>New Delhi-based Brinjal Designs Pvt Ltd manufactures home furnishing...

Carolin Russ

Weko, Weitmann &amp; Konrad GmbH &amp; Co KG, based in south Germany, is...

Apurva Kothari

No Nasties was the first fashion brand in India to make 100 per cent...

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Adriano Goldschmied
AG Jeans

The hype around 'designer jeans' was created by him. And the new wave of...

Vaanee Bhatia
Gritstones Clothing

<div>Delhi-based Gritstones Clothing offers quality and exemplary style...

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


June 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Advanced Search