In the first half of 2008, China earned nearly US $7.66 billion of revenue by exporting textile and garments products to Hong Kong. This showcases a considerable decline of 14.31 percent when compared to the same period of last year.
Demand of China's textiles and garments from the United States and Europe has reduced this year. This has automatically affected China's re-exports of textile and apparels Hong Kong.
Even exports to Hong Kong have witnessed a continuous downfall, from a drop of 3.29 percent in January to the fall of 9.65 percent in March and then a slump of 14.31 percent in June.
Industry insiders anticipate that, this declining trend will continue in the second half of this year also, if the demand from US and Europe does not rise.
Fibre2fashion News Desk - China
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