China's textile export growth rate slows down in Jan-May

11 Jun '14

1 min read

The rate of growth in exports of textiles and apparel from China has slowed down in the first five months of the current year, according to the latest import and export data released by the Customs.

From January to May 2014, China’s total textile and apparel exports stood at US$ 106.84 billion, showing an increase of 3.6 percent year-on-year. While this growth rate is greater than January-April growth rate of 2.1 percent, it is much lower than the 13.8 percent growth rate registered in the first five months of last year, which shows that the growth rate has slowed down.

In May 2014, China’s total textile and garment exports earned $24.97 billion, registering a growth of 8.7 percent year-on-year. Of this, textile exports increased by 7.6 percent to $10.46 billion, whereas clothing exports grew by 9.5 percent to $14.51 billion.

The current scenario, however, is conducive to enhancing textile exports, due to devaluation of the Chinese currency vis-à-vis the American dollar, the gradual recovery in overseas demand, and the narrowing down of difference in prices of domestic and imported cotton.

Fibre2fashion News Desk - India

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