'China's textile exports growth may beat target in 2014'

21 Jan '14

2 min read

China’s Ministry of Commerce has set textile and garment export target of 8 percent for the current year, but the China Chamber of Commerce for Import and Export of Textile and Apparel (CCCT) expects the industry to perform better than the target and post export growth of about 10 percent.

The US and the EU markets continue to pick up and therefore China’s textile export market situation in 2014 is better than in 2013, Jiang Hui of CCCT said.

According to the Customs data, Chinese textile and clothing exports earned US$ 283.99 billion. Segment-wise, the textile sector exports were valued at $106.944 billion, up 11.6 percent year-on-year, while the apparel sector exports were worth $177.046 billion, up 11.2 percent year-on-year.

However, many market analysts opine that the actual level of exports in 2013 were lower than the data given by the General Administration of Customs. Jiang Hui believes that the real growth rate of China’s textile and garment exports to be around 10 percent in 2013.

In 2014, the Chinese Government would implement the cotton subsidy policy and end the policy of temporary purchase and storage of cotton, which is expected to narrow the difference between the prices of cotton in the domestic and international markets, which in turn, would be conducive in enhancing the international competitiveness of China’s textiles and apparel in export market.

At present, compared to its Southeast Asian counterparts, the Chinese textile and clothing enterprises have advantage of good service, prompt delivery, and product quality, but many Southeast Asian firms are gradually catching up.

In recent years, Vietnam, in particular, has become a strong competitor to China’s garment industry. In 2013, Vietnam’s textile and apparel exports surged 19 percent year-on-year to cross the $20 billion-mark.

Fibre2fashion News Desk - India

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