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Manufacturers turn to domestic market for reducing exports
13
May '08
A recent investigation made by experts show that in the first quarter of 2008, demand for Chinese clothes reached 158.383 billion yuan, recording a rise of 29.36 percent than the same period last year.

For the past many years, the textile and clothes industry of China depended heavily on exports for earning revenues. Nearly 40 percent of the goods were exported, however, rise in the prices of raw materials, RMB appreciation and a 10 percent increase in the cost of production has reversed the trend.

Now, textile and clothes enterprises have turned attention to the domestic market to escape from the impact of the existing crisis. In keeping with this changing trend, experts have anticipated that the dependence of Chinese textile and clothes industry on exports will go down by about 20 percent over a period of 5-10 years.

Industrial sources revealed that in 2000, the per capita fibre wastage production of China was 8.3 kilogram which increased to 15 kilograms by 2007. This can now be used for domestic consumption showing that the country has immense scope for development and diversification of the goods produced.

Fibre2fashion News Desk - China

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