Home / Knowledge / News / Textiles / Slight fall in RMB appreciation helps Chinese exporters
Slight fall in RMB appreciation helps Chinese exporters
29
Jul '13
China’s currency has been rapidly appreciating for the past two quarters against the US dollar, making it difficult for the textile exports. However, these exporters are now feeling a sigh of relief as the value of renminbi against the US dollar has declined slightly for two consecutive weeks.
 
Analysts expect the RMB appreciation to weaken further, and the benefit to the textile industry would become more apparent.
 
The renminbi exchange rate is very sensitive, especially for China's small and medium textile and garment enterprises.
 
It is estimated that for every 1 percent appreciation of RMB, the profit margin of the domestic cotton textile industry declines by 3.19 percent, whereas the fall is 2.27 percent for the wool industry, and 6.18 percent for the clothing industry.
 
The slight decline in RMB exchange is likely to help improve the performance of local textile exporters. 
 
From January to June 2013, China’s cumulative textile and garment exports stood at US$ 127.232 billion, which is an increase of 12.06 percent year-on-year, according to data from Customs department.
 
Of this, textile exports climbed 10.1 percent year-on-year to US$ 51.16 billion, while clothing exports rose by 13.4 percent year-on-year to US$ 76.05 billion.
 

Fibre2fashion News Desk - India

Must ReadView All

Textiles | On 19th Jan 2017

Pakistan imposes duty on Indian fine cotton yarn

A provisional countervailing duty ranging from Rs 26.89 to Rs 55.8 a...

Textiles | On 19th Jan 2017

Union Budget: Textile sector expects excise duty revisions

Excise duty on man-made fibres should be reduced to bring it on par...

Union textiles minister Smriti Irani at the inauguration of IIGF in New Delhi with textiles secretary Rashmi Verma and other dignitaries. Courtesy: PIB

Apparel/Garments | On 19th Jan 2017

Ministry to reimburse apparel exporters for state levies

The textile ministry has received a sum of Rs 500 crore from the...

Interviews View All

Mohammad Mamun Ar Rashid
UL VS Bangladesh Ltd

Productivity, creativity and innovation play a vital role in the growth of ...

Jurgen Gauger
Spreadshirt

‘Buying crowdsourced or creative designs are much more appealing to the...

Priyanka
Studio Priyanka Rajiv

‘To reinvent the age-old tradition of embroidery to suit demographics and...

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

Sonam & Paras Modi
SVA

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

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
January 2017

January 2017

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

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search