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Pressure fails to rattle Shandong textile & garment exports
Jan '08
In spite of heavy pressures of increased macro regulation and control by the state, international trade frictions, continued appreciation of RMB and other factors, Shandong ports completed textile and clothing exports of US $14.49 billion in 2007, up 14.7 percent compared with the previous year, according to Qingdao Customs statistics.

New changes in textile and garment export structure of Shandong Province show that proportion of independent exports has enlarged, private sector is booming, exports are shifting towards high-end merchandise.

According to statistics, textile and garment exports of Shandong ports in 2007 were mainly in general trade; annual export value reached $8.29 billion, an increase of 15.3 percent over the previous year, accounting for 57.3 percent of total exports. Processing trade exports only registered $6.11 billion, with a rise of 13.4 percent; re-exports from warehouses in Bonded Zone marked $80 million, boosting to 61.1 percent.

In 2007, foreign-funded enterprises exported $5.58 billion of textiles and clothing, a surge of 16.3 percent, accounting for 38.5 percent of Shandong's total exports of textiles and clothing; private enterprises exported $3.75 billion, climbing 38.6 percent.

In addition, from the structure of export commodities, garment made from fabrics earned $6.4 billion, growing by 16.2 percent, accounting for 44.2 percent of total exports; cotton woven fabric exports scored US $1.83 billion, up 17.6 percent, registering 12.6 percent of total exports.

Japan, US, EU and South Korea were the main buyers. In 2007, textile and garment exports of Shandong ports to these countries were $3.44 billion, $2.37 billion, $2.18 billion, and $2.08 billion, up 9.4, 15.7, 27.5 and 6.3 percent, respectively. Revenue collection from these regions together accounted for 70 percent of Shandong's total textile exports.

Fibre2fashion News Desk - China

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