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Italy reinforcing its postion on local textile market
Aug '08
It has been noted that the clothes and textile products from Italy are rapidly entering China Mainland, Hong Kong, Macao as well as Taiwan markets.

In August 2008, Hong Kong imported over US $4.99 worth of clothes and textile products in total. Of these, products from Italy reached $215 million, with year-on-year surge of 35 percent. Thus, Italy has now become the second biggest clothes and textile supplier of Hong Kong.

China Mainland still remains top clothes and textile supplier of Hong Kong at $4.342 billion, and a market share of nearly 88 percent. However, the figures show that China's share has shrunk 4.7 percent.

The third and fourth biggest clothes and textile suppliers of Hong Kong are France and Japan, which enjoyed market share of 1.32 and 1.12 percent respectively this month.

Fabric and yarns remained the key import products this month.

Experts say that trade has been tough this year. Thus, enterprises are concentrating of manufacturing high value-added and quality products that earn better profits.

Italy, France and other EU nations as well as Japan are world's leading major niche fashion fabric manufacturers. Therefore, its only obvious that Honk Kong companies are increasing their purchases from these regions.

Experts believe that these products will help them upgrade the quality of clothes and textile products.

Fibre2fashion News Desk - China

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