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China's textile & apparel exports grow marginally in Q1
06
May '14
The textile and apparel exports from China grew marginally by 0.4 percent year-on-year to US$ 58.13 billion during the first three months of the current year, according to the data from the General Administration of Customs.
 
China’s total textile and garment trade during the three-month period stood at $64.36 billion, up 0.9 percent year-on-year. Of this, imports grew at 5.8 percent year-on-year to $6.23 billion, thus resulting in a cumulative surplus of $51.9 billion, down 0.2 percent year-on-year.
 
From January to March 2014, dramatic fluctuations were seen in Chinese textile and clothing exports. The month of March saw the country’s textile and apparel trade rising by 9.8 percent year-on-year to $20.92 billion, of which exports accounted for $18.64 billion, up 11.5 percent, and imports contributed $2.28 billion, down 1.9 percent.
 
According to industry analysts, an inflated base is one of the causes of slowdown in textile and garment export growth. The renminbi-dollar exchange rate fluctuation was another reason for slow growth in exports during the quarter.
 
Segment-wise, textile exports from China during the initial three months of 2014 fetched $23.04 billion, showing an increase of 2.1 percent year-on-year. Of this, yarn exports decreased by 3.9 percent, while fabric exports grew by 1.7 percent and finished goods exports expanded 4.4 percent.
 
Apparel exports earned $35.09 billion during the period under review, registering a decline of 0.6 percent year-on-year, mainly due to a 6.4 percent fall in average export price of garments.
 

Fibre2fashion News Desk - India

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