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China's fabric exports drop significantly in Feb'14
29
Mar '14
The exports of fabric from China to almost all global markets fell significantly in February 2014, according to the data from the Customs.
 
During the month, China’s fabric exports to Asian markets declined by 37.41 percent year-on-year to US$ 999 million. Of this, fabric exports to Bangladesh, the Philippines and the United Arab Emirates were down 65.36 percent year-on-year, 62.37 percent and 59.38 percent, respectively.
 
Similarly, China’s fabric exports to the EU fell by 31.04 percent year-on-year in February 2014. A decline of 39.88 percent, 37.77 percent and 34.67 percent was seen in exports to the UK, Belgium and Italy, respectively, during the period.
 
Fabric exports from China to Latin America were down 46.86 percent year-on-year during the month under review. Of this, exports to Mexico, Argentina and Chile shrunk 57.28 percent, 57.14 percent and 52.56 percent, respectively.
 
Likewise, Chinese fabric exports to African countries dipped 37.59 percent year-on-year, with exports to South Africa, Nigeria and Egypt falling 57.17 percent, 44.55 percent and 38.15 percent, respectively.
 
Among the Chinese provinces, only four showed a growth in fabric export. These were Guangxi, Ningxia, Gansu and Chongqing, which recorded a growth of 680 percent year-on-year, 247 percent, 78.92 percent and 51.89 percent, respectively.
 
The value of fabric export from Fujian, Shanghai and Jiangsu, along the southeast coast, fell by 58.47 percent year-on-year, 47.95 percent and 46.23 percent, respectively. The value of export from Anhui, Xinjiang and other regions of Shanxi dropped by 71.08 percent, 67.61 percent and 63.87 percent, respectively.
 
In January-February 2014, China exported fabric worth $6.89 billion, down 4.26 percent year-on-year. In terms of quantity, it was 4.789 billion metres, showing a drop of 6.73 percent. The average export price worked out to 1.44 yuan/metre, which was an increase of 2.65 percent.
 

Fibre2fashion News Desk - India

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