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Textile exports from China's Nantong city post good growth
Jul '13
The textile exports from Nantong city, located in the Chinese province of Jiangsu, have posted good growth despite unfavourable conditions like slow recovery of the US economy, the European debt crisis and other factors.
From January to May 2013, Nantong companies exported 147,823,800 metres of textiles valued at US$ 277.052 million, posting a growth of 11.42 percent and 9.45 percent, respectively, compared to the same period of last year, according to data from the Nantong Inspection and Quarantine Bureau.
Textiles, including yarn and fabric varieties of cotton and polyester-cotton, from Nantong were exported to over 80 countries and regions. However, Asia accounted for more than 70 percent of Nantong textile exports during the five-month period.
According to experts, Nantong textile exports are gradually losing price competitiveness in international market due to rising domestic labour costs, higher prices of domestic cotton, RMB appreciation, and other factors.
This has narrowed profit margins of Nantong textile companies and has made it difficult for them to sustain their businesses.
In light of the situation, inspection and quarantine agencies have suggested that companies engaged in textile export businesses should enhance their design capacity, develop their own brands, explore new markets, upgrade production techniques and manufacture high-end retail items, and increase their ability to resist risks.
The inspection and quarantine institutions are embracing information and communication technology (ICT) service platform to help textile enterprises reduce export costs and improve the release rate.

Fibre2fashion News Desk - India

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