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Textile & garment exports to EU may decline in H2
08
Sep '08
The European Union is the largest market for Chinese textile and garment products. However, in the second half, a decline has been observed in demand of textile and clothing items from the EU regions. Experts suggest that, one of the reasons for this decrease in export orders is, lull in international economy.

According to the data released by EU statistics agency (Eurostat), in the second quarter, GDP of 15-euro zone countries fell almost 0.2 percent. It is for the first time, since 1995, that regional economic contraction has been experienced.

Economists opine that, the downward trend in the second quarter economic data of the euro zone is due to adjustment that emerged after the strong economic growth in the first quarter, and the overall economy through out the world was affected owing to reasons like inflation.

In the first six months of 2008, China earned nearly US $17.929 billion by exporting various textile and garment products to the EU. This marks a year-on-year increase of 43.21 percent, however, it is anticipated that, the exports will not maintain such a high growth in the second half of this year.

Fibre2fashion News Desk - China

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