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Textile export to US & EU reflect disparity in revenues
11
Aug '08
Export of textile and garments to US and the European markets reflected a starkly different trend in the month of June.

While textile and apparel exports to EU fetched US $3.78 billion, an increase of 47.5 percent, those to US registered a decline of 4 percent to reach $2.16 billion and a record a second monthly decline in this year.

Again, total exports of China to EU amounted to $17.42 billion in the period between January and June this year, marking an increase of 44 percent. On the other hand, the cumulative exports to US in the same period stood at $10.81 billion, reflecting a negligible increase of 0.3 percent.

Statistical reports shows that the contribution made by EU market to the overall export growth of China was as high as 65 percent. Among others, exports to the original 15 member countries grew by 46.6 percent while those to 12 countries from the east rose by 14.9 percent.

Although exports to Japan and South Korea remained stable with little changes, exports to key export markets like Hong Kong Special Administrative Region of China, Turkey, United Arab Emirates, Panama and others, posted a decline.

At the same time, exports to Russia, Canada and Saudi Arabia which recorded a strong growth last year, fell into the negative growth category this year. However, total exports to the ASEAN region settled at $5.09 billion, an increase of 15.8 percent of which textiles alone accounted for a growth of 41.1 percent, although clothing exports fell by 18.5 percent.

On the contrary, exports to Kyrgystan and Kazakhstan maintained a high growth of 247 and 125 percent respectively. Growth rate of major commodities nearly doubled while that in apparel segment was even more prominent. An astounding 90 percent contribution in exports to these two countries was made by Xinjiang alone.

On the whole, export results have been fairly stable and if emphasis is laid on the quality of products and consumer preference, China is sure to regain its lost markets and expand its exports even further for the remaining part of this year.

Fibre2fashion News Desk - China


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