China's textile industry may show steady growth next year

11 Dec '13

1 min read

The overall performance of the Chinese textile industry is likely to remain steady in 2014 due to low risk of international upheavals and steady growth in China’s domestic demand, according to the China Textile Industry Association.

This year, the overall economic performance of China’s textile industry was low, and the textile industry added value increased by about 9 percent year-on-year during the first ten months, slightly lower than the added value in the first half of 2013. The clothing sector showed an increase of approximately 8 percent year-on-year in the first half of the current year.

In the first nine months of 2013, the main business revenue of Chinas’ textile industry enterprises grew approximately 12 percent year-on-year, while their gross profit increased by about 17 percent year-on-year.

According to industry experts, major developed economies have gradually started showing good momentum, which will speed up the recovery of the world economy.

Moreover, the Chinese economy would, in the short-term, remain in the adjustment phase. Plus, the fundamentals remain steady and there is steady growth in urban and rural incomes. Hence, the next year would be beneficial to the development of China’s textile industry, say experts.

Fibre2fashion News Desk - India

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