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Textile & garment sector faces competition
04
Jul '08
Although six months have passed, the average utilization rate of top 21 categories of US-bound textile and apparel quotas has remained less than 20 percent. This scenario has brought worry among the entrepreneurs related to textile industry.

According to US Customs statistics, till May 21, average clearance rate of 21 categories of popular US-bound textiles and garment quota was only 18.2 percent; the use of quota this year is far behind when compared to 2007. Clearance rate of US-bound cotton shirt (338/339) was 19.5 percent, while it had reached 34.5 percent in the same period last year.

One of the main reasons for decrease in export to the United States is that, China is facing subprime credit crisis. Secondly, many developing nations are also making efforts to seize US market, which has reduced share of Chinese products.

While the cost of textile and garment made in China is rising rapidly, US buyers have started transferring their orders to other countries.

According to US Department of Commerce, in terms of quantity current market share of Chinese textile products in the United States is nearly 40.53 percent. The market share of clothing is around 34.24 percent, this shows that China remains first supplier to US, even though exports decreased.

On the other hand, Vietnamese textile and apparel export to the United States remained strong, indicating a year-on-year growth of 29.69 percent and 33.06 percent.

Even, India's exports to the US achieved a slight growth of 0.54 percent in textiles and 1.72 percent in clothing.

Fibre2fashion News Desk - China

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