Textile raw materials import slide down

22 Feb '08

2 min read

According to customs data, in 2007 China's total imports of all types of textile raw materials reached nearly 4.37 million tons, a reduction of almost 1.21 million tons from 2006, down 19.18 percent on year.

The country expended around US $7.63 billion for these products, down 7.65 percent from 2006. However, in 2007 import price for textile raw material saw an improvement from the previous year.

Of the total products imported to the country, cotton grabbed a larger proportion, taking total annual imports to 2.46 million tons, accounting for 56.29 percent of the country's total cotton import. This commodity also demonstrated a fall of around 1.34 million tons from a year earlier, with 32.47 percent decline.

Further, import volume of silk decreased by 36.22 percent, but prices saw a hike by 35.32 percent. Polyester chip imports amounted to 2,94,200 tons, a year-on-year increase of 52.43 percent and its value grew by 56.57 percent.

China's procurement of raw materials mainly concentrated in Asian region, amounting to $2.71 billion, which accounted for 35.49 percent of the total import value, rendering a slight decrease of 2.3 percent from the previous year.

Where as, purchases from the United States amounted to $1.922 billion, down 24.2 percent. Supplies from Australia reached upto $1.612 billion, a surge of 21.2 percent.

Shanghai, Jiangsu, Shandong and Beijing were the provinces and municipalities, which imported textile raw materials from these places. Textile raw material imports of these regions together amounted to $4.582 billion, accounting for 60 percent of China's total import value in 2007.

Fibre2fashion News Desk - China

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