Home / Knowledge / News / Textiles / Growth of textile & garment exports to drop further in Q4
Growth of textile & garment exports to drop further in Q4
19
Nov '08
So far this year, export growth of China's textile and garment has continued to slow down, due to the impact of many factors, such as poor demand in international markets, continued appreciation of the RMB against the U.S. dollar, increased cost of comprehensive elements, raised threshold of processing trade and the tightening of credit lending.

In view of the significant drop in export growth rate of the textile industry, China has increased export tax rebate rates on textiles and garment twice this year, from 11 percent to 13 percent in August, and once again, from 13 percent to 14 percent in November.

According to the latest statistics from the China Textile Industry Council, in the first 9 months this year, China's total exports of textile and apparel reached US $140.28 billion, up 8.03 percent year-on-year, but growth rate fell 12.14 percent from the same time last year.

If the same export amount is converted into equivalent RMB earnings, then textile and apparel exports in the first 9 months would decline 0.77 percent year-on-year, down 16 percentage points from the same period last year. But with the 3 percent increase from the two policy adjustments of export drawback, textile enterprises can expect to reduce overall losses by about 8 billion Yuan this year.

Overall, Chinese textile and apparel exports still have a competitive advantage. But the deceleration trend of exports to main markets, such as the United States, the European Union and Japan cannot be expected to change in the next few months.

Judging from the current operation situation, as well as internal and external environment, the growth rate of textile industry in the fourth quarter is expected to drop further, but the industry can still maintain a certain growth throughout the whole year.

Fibre2fashion News Desk - China

Must ReadView All

Textiles | On 29th Apr 2017

Textile sector may have uniform GST rate: Irani

The textile sector could have a uniform Goods and Services Tax (GST)...

Textiles | On 29th Apr 2017

EU rules needed to curb textile worker exploitation: MEPs

European Union (EU) rules are needed to oblige textile and clothing...

Apparel/Garments | On 29th Apr 2017

US retail operating growth to be 1.5-2.5% in 2017: Moody's

The forecast for operating income growth in the US over the next 12...

Interviews View All

Karin Ekberg
Leadership & Sustainability

Sustainable models are beneficial for brands, retailers and manufacturers

Sunil Rathore
Lacoste India

‘New vendor is welcome if he offers cost, quality and timely delivery’

Saket Garg
Garg Corporation

The biggest challenge is lack of skilled workforce and competition from...

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Madhu Jain
Madhu Jain

She grew up in the walled city of Old Delhi, completed her studies, and...

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer <b>Prathyusha Garimella</b> is known for blending ...

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

news category


Related Categories:
April 2017

April 2017

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

SUBSCRIBE


Browse Our Archives

GO


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



X