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China's fabric exports likely to maintain steady growth
18
Jul '14
Fabric exports from China are expected to maintain steady growth during the remaining part of the year despite weak market demand, increasing labor costs and other problems plaguing the development of the country’s textile industry, according to market analysts.
 
According to statistics from the China Textile Import and Export Chamber of Commerce, from January to May this year, China exported fabrics valued at US$ 21.3 billion, registering an increase of 5.27 percent year-on-year. In terms of volume, 14.736 billion metres of fabric was exported, showing a growth of 3 percent. The average export price increased by 2.2 percent to 1.45 yuan/metre.
 
In the month of May 2014, China’s fabric exports were valued at $5.241 billion, which is the highest monthly export value this year.
 
During January to May 2014, China’s fabric exports to major markets also increased. Its exports to Asia grew by 2.69 percent year-on-year to $13.603 billion. Of this, exports to Pakistan, Cambodia and Vietnam increased by 45.22 percent, 21.35 percent and 15.11 percent, respectively.
 
Similarly, China’s fabric exports to the EU increased by 16.47 percent year-on-year, of which, exports to Spain, the UK and German grew by 35.9 percent, 33.58 percent and 17.94 percent, respectively.
 
Chinese fabric exports to African countries rose by 13.03 percent year-on-year, with exports to Egypt, Kenya and Nigeria growing by 20.24 percent, 19.43 percent and 18.87 percent, respectively.
 
Likewise, exports of fabric from China to Latin American countries were up by 8.68 percent year-on-year, of which exports to Colombia, Nicaragua and Mexico grew by 45.43 percent, 29.2 percent and 16.08 percent, respectively.
 
Analysts at the China Textile Economy Research Center point out that Chinese fabric exports were volatile in emerging markets, while they were stable in well-developed markets during the initial five months of the current year. However, with recovery in developed economies there is still room for improvement in emerging markets like the Asean. Overall, they expect China’s fabric export growth to continue the current trend of steady recovery.
 

Fibre2fashion News Desk - India

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