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Slump in textile & garment export from Guangdong
16
Apr '08
The textile industry of China is facing series of problems like appreciation of Renminbi, constant hike in price of raw materials and crude oil, along with sluggish international market, especially of Europe and America, resulting in negative growth in exports.

According to Customs data, in January and February 2008, textile and garment exports from Guangdong Province reached merely US $3.52 billion, showing a year-on–year decline of 11.3 percent.

In the first two months of 2008, textile and apparel exports from Guangzhou fetched nearly $16.44 billion, representing a slight increase of 5.7 percent.

However, garment exports from Guangdong to the US earned nearly $4.44 billion in 2007, observing a rise of 2.5 percent, when compared to previoius year.

In January and February 2008, apparel export to US was $280 and $160 million, witnessing a significant decrease of 27.9 and 41.9 percent.

Guangdong, is the largest textile and garment export province in China. In 2007, textile and apparel exports from the nation and province grew by 18.9 and 18.7 percent.

Fibre2fashion News Desk - China

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