Home / Knowledge / News / Textiles / Chinese textile exports to Japan dip on yen depreciation
Chinese textile exports to Japan dip on yen depreciation
20
Jan '14
The depreciation of the Japanese currency against the US dollar, along with the appreciation of the Chinese yuan against the dollar, has resulted in the decline in Chinese textiles and apparel exports to Japan.
 
From January to November 2013, China exported 25.9 billion yuan worth of textiles and garments to Japan, registering a decline of 0.63 percent year-on-year. However, the volume of exports has not decreased and the decrease in value is more due to the depreciation of the Japanese yen, which resulted in the decline in the price of Chinese products.
 
On January 1, 2013, one US dollar was traded at 86.6109 Japanese yen. Thereafter, the currency steadily depreciated to trade at 95.9646 yen for 1 US dollar on March 20, 2013. Though it recovered partially to 93.0461 yen for 1 US dollar on April 3, 2013, it depreciated again to cross the 100 yen for 1 US dollar mark on May 9, 2013. On November 30, 2013, the exchange rate was 102.4452 yen for 1 US dollar.
 
On the other hand, the Chinese yuan had appreciated against the US dollar during the same period. On January 1, 2013, one US dollar was exchanged for 6.2302 yuan, while the exchange rate on November 30, 2013 was 6.0933 yuan.
 
In 2014, the Chinese currency is expected to appreciate further to break the 6 RMB against the US dollar mark.
 
Hence, Chinese textiles and clothing exports to Japan are likely to be under pressure in 2014.
 

Fibre2fashion News Desk - India

Must ReadView All

Courtesy: Alibaba

Apparel/Garments | On 21st Feb 2017

Alibaba announces retail partnership with Bailian Group

Chinese e-commerce giant Alibaba Group has made another move in its...

Apparel/Garments | On 21st Feb 2017

Govt may free up retail FDI for domestic goods

Government may remove restrictions on retailers like Walmart and...

Apparel/Garments | On 21st Feb 2017

Max Fashion targets revenue of Rs 5,000 cr by fiscal 2021

Apparel retailer Max Fashion is mulling to double its turnover to Rs...

Interviews View All

Frank Gossmann
Rotorcraft AG

‘RT3 motto is: Do not check millimetres, check colours.’

Sanjay Desai & Ashish Mulani
True Colors

Digital textile printing will be the technology of the future

Smita Murarka
Amanté

‘There is huge demand in the Indian lingerie market for non-wired styles.’

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Madhu Jain
Madhu Jain

She grew up in the walled city of Old Delhi, completed her studies, and...

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

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
February 2017

February 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