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Relocation of textile bases shrink exports
17
Jul '08
According to the latest Customs data, China exported US $81.68 billion worth of textile and garment exports in the first half of this 2008, representing a year-over-year decline of 11 percent.

Industry experts believe that this is the impact of relocation of China's textile and garment industries to ASEAN and other neighboring countries and regions.

The General Administration of Customs recently released an analysis report, saying that Chinese textile enterprises, particularly those in Guangdong Province, are relocating swiftly.

It was noted that since textile and garment industries in India, Vietnam, Cambodia and Bangladesh and other countries have emerged as important support industries in recent years, they will serve well as production base.

Besides, these countries offer advantages like lower raw-material and labor costs. Currently over 400 Chinese textile enterprises have invested into Cambodia, and nearly 100 have contributed in Bangladesh.

Customs data showed that in the first half of this year, Country's exports of clothing and related accessories completed $49.96 billion, an increase of 3.4 percent, but a year-on-year drop of 18.3 percentage points in growth rate.

Exports of textile yarn, fabrics and products registered $31.72 billion, an increase of 26.8 percent, and 17 percentage points higher in growth rate over the same time last year.

Industry sources pointed out, the export growth rate of textile yarn, fabrics and products were significantly faster than that of textiles and clothing exports, reflecting the obvious impact of the relocation of China's garment processing business.

In the first five months this year, textile and garment exports to ASEAN went up 29.3 percent. Exports of textile yarn, fabrics and related products scored $2.92 billion, an increase of 44.6 percent, while that of clothing marked $1.2 billion, climbing only 2.8 percent.

According to the statistics, in the first five months of this year, the textile industry achieved a 12.4 percent increase in added value over the same time last year, but growth-rate slowed down 4.8 percentage points. Export delivery value marked 290.9 billion yuan, a rise of 8.7 percent, but down 7 percentage points at year-on-year level.

Though textile industry realized profits of 41.8 billion yuan, recording a boost of 9.2 percent than that in corresponding period last year, the growth-rate still indicated a slow down of 34.3 percentage points.

Fibre2fashion News Desk - China

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