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Chinese textile exports to EU see fast growth in Q1
10
May '14
China’s textile and apparel exports to the EU saw the fastest growth among key markets in the first quarter of 2014, according to the General Administration of Customs.
 
Of the total textile and garment exports of US$ 58.13 billion made in January-March 2014 by China, the EU accounted for $11.09 billion, registering an increase of 10.2 percent year-on-year, the fastest growth in key markets. Among them, textile exports increased by 10.2 percent, while apparel exports grew by 10.1 percent. 
 
During the first three months, China’s textile and clothing exports to the US stood at $8.36 billion, showing an increase of 2 percent year-on-year. Of these, textile exports grew at 4.2 percent whereas apparel exports rose by 1.2 percent. In other words, China’s textile exports to the US grew at a faster rate than clothing exports.
 
In recent years, the Asean region has become the fastest growing market for China’s textiles and garment exports, which have increased at an annual average of 30 percent from 2011 to 2013. But, in the first quarter of this year, the growth rate of China’s textile and clothing exports to Asean slowed down.
 
China exported textiles and apparel worth $7.28 billion to the Asean countries during the three-month period, showing an increase of only 1.3 percent year-on-year. Segment-wise, textile exports rose by 7.1 percent, of which, yarn exports increased by 8.2 percent, fabric by 3.6 percent, and finished products by 16.6 percent.
 
However, China’s clothing exports to Asean nations fell 6.7 percent year-on-year, with exports of knitted and woven garments decreasing by 5.6 percent, mainly due to fall in prices. The export volume still achieved a rapid growth of 26.8 percent.
 
Among the ten Asean countries, China’s textiles and garment exports to Vietnam and Cambodia maintained rapid growth, while exports to Malaysia and Singapore declined significantly.
 
China’s textile and apparel exports to Japan, another key export market, were down 7.3 percent and totaled $5.6 billion in the first three months of the current year. Among them, textile exports increased by 3.4 percent, whereas clothing exports fell 9.5 percent.
 

Fibre2fashion News Desk - India

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