The textile machinery industry of China is still believed to be in its early stages of development and for this ongoing year, the export value of the sector is likely to exceed US $1.8 billion.
According to the data of China Customs, the country exported 1,825 sets of shuttle less looms worth $8.13 million in the first four months of this year, down by 24.42 and 26.89 percent over last year in terms of volume and value respectively.
On the other hand, it imported 6,086 sets of shuttleless looms, dropping by 15.95 percent compared to 2007. However, the import value reached $286.53 millions, up by 5.76 percent.
Considering the present market situation, experts believe that some of the enterprises in the machinery industry may even end up in worse situation compared to the previous year. While Chinese cotton textile machinery industry will enter into adjustments, the low grade cotton textile machines industry will only hold a minute share of the domestic and global market.
Textile machinery export of the country has been increasing by about 30 percent each year for the past couple of years and last year it accounted for nearly 43 percent of the total textile machinery exports of China.
These figures show that the country depends heavily on revenues generated from the transaction of textile machinery and even a marginal decline in exports is likely to affect the overall earnings of the country.
Fibre2fashion News Desk - China
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