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Textile & garment export mounts up in May
13
Jun '08
According to the data released by Customs, China earned nearly US $14.435 billion through exports of textile and garments in the month of May this year, showcasing a year-on-year increase of 9.67 percent.

The export value of yarn, fabric and manufactured products reached almost $5.847 billion last month, a boost of 25.3 percent. China fetched around $8.588 billion by exporting garments and accessories to various countries, a slight rise of 1.08 percent, when compared to May 2007.

From January to May this year, China earned nearly $66.157 billion of foreign currency by shipping textile and apparel products, showcasing a boost of 15.4 percent. Among them, cumulative export value of textile products was nearly $26.067 billion, a hike of 26.3 percent. The total export of apparels and clothing accessories reached up to $40.09 billion, growing by 9.3 percent. However, it is less than the national average, and 9 percentage points below the growth of the same period of 2007.

In addition, the statistics also reveal that, the demand for textile and apparel in downturn has also affected the development of cotton industry. The amount of cotton imported in May was approximately 240,200 tons, a fall of 23,200 tons from the previous month, or a decrease of 8.81 percent. It represents a year-on-year increase of 39,000 tons, or 19.37 percent.

In the first five months of 2008, China's accumulated import of cotton touched almost 1.03 million tons, a year-on-year increase of 108,000 tons, or 11.7 percent, when compared to same period of 2007.

Fibre2fashion News Desk - China

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