Home / Knowledge / News / Textiles / 'Weakening Euro, a growing concern' - Experts
'Weakening Euro, a growing concern' - Experts
Sep '08
Since the RMB started skyrocketing against the US Dollar, most foreign trade deals are being made in Euro.

However, now that RMB is appreciating rapidly against the Euro as well, local industries are getting concerned.

Insiders say that most export enterprises were struggling to survive against the weakening US economy and this new development was definitely not going to help.

In the first seven months of this year, Chinese textile and garment export volumes could only achieve a 5.21 percent growth, representing a sharp decline of 5.53 percentage points from same period of 2007.

This year in April and May the RMB exchange rate against the Euro started to appreciate, the increase exceeding that against the US Dollar.

The rise met a new high on September 2, when 1 Euro equaled to 9.9667 yuan. Besides, European economy is expected to weaken significantly next year.

Experts are urging industries to take necessary steps and try to cope with this situation.

Fibre2fashion News Desk - China

Must ReadView All

Textiles | On 29th Jun 2017

Nan Ya files trade petition in US against Korea & Taiwan

Nan Ya Plastics Corporation, America, a US synthetic fibre producer,...

Textiles | On 29th Jun 2017

Indian textile industry will reach new milestone by 2020

By 2020, textile technologies will be highly advanced not only with...

Apparel/Garments | On 29th Jun 2017

Amazon intends to keep investing and growing in India

American online retail giant Amazon intends to keep investing and...

Interviews View All

Anavila Misra
Anavila Collection

Fashion shows are also encouraging and highlighting sustainable fashion

Hugo Boss

'Hugo Boss works with carefully selected sourcing partners'

Nitin Bhatia
Trend Arrest

Setting up a brand for online selling is easy, but running the brand is not

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Kevin Nelson

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Robert Brunner

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


Letter To Editor

(Max. 8000 char.)

Search Companies


news category

Related Categories:
July 2017

July 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.


Browse Our Archives


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search