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China's Feb'14 textile & apparel exports lowest in 2 years
Mar '14
China’s textile and apparel exports recorded a sharp fall in February 2014, attaining the lowest level since February 2012, when the country had exported US$ 9.71 billion worth of goods.
In February 2014, China’s textiles and apparel exports earned $10.88 billion, registering a drop of 34 percent year-on-year, according to the data released by the General Administration of Customs.
On a month-on-month basis, the fall in China’s textile and garment exports was even greater at 62 percent, as the country made record-breaking exports of $28.62 billion in January 2014.
Segment-wise, textile exports fetched $4.22 billion for China in February 2014, recording a decline of 28.4 percent year-on-year, while apparel exports plunged 37.1 percent to $6.66 billion.
For the first two months of 2014, China’s textile and apparel exports amounted to $39.49 billion, down 4 percent year-on-year. Of this, the textile exports were $14.75 billion, a decrease of 2.1 percent, while clothing exports earned $24.74 billion, a drop of 5.2 percent.
The Spring Festival holidays falling in February 2014 was one of the reasons for sharp fall in China’s textile and garment exports during the month.
Last year, China’s textile and apparel exports achieved steady growth to earn $283.99 billion, registering an increase of 11.4 percent year-on-year. 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.

Fibre2fashion News Desk - India

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