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Effects of meltdown visible in November industry figures
05
Jan '09
In November, the value added by China's textile industry grew 6.7 percent year-on-year, though growth rate fell 0.2 percent from the previous month and down 7.8 percentage point's year-on-year. Value of exports dropped 3.8 percent, 6.5 percent lower than previous month and down 13.7 percent year-on-year.

Yarn production increased 4.1 percent, cloth production fell 3.9 percent; chemical fibre production was flat year-on-year but garment production grew by 3.3 percent. Domestic cotton prices witnessed a declining trend. By the end of November, domestic cotton price index was 10,662 Yuan per ton, down 9.2 percent from the previous month, and 21.2 percent year-on-year.

From January to November, the value added by the textile industry grew 10.5 percent year-on-year, though growth rate declined 6 percent year on year. Value of exports reached 712.3 billion Yuan, an increase of 6 percent; growth rate fell 7.6 percent year-on-year.

Yarn output scored 19.75 billion tons; cloth output completed 51.4 billion meters, up 9 percent and 4.8 percent respectively, but growth rated declined 8.1 and 8.3 percent year-on-year respectively. Chemical fibre production touched 22.21 million tons, an increase of 2 percent, but growth rate fell 16.8 percentage points.

Clothing production amounted to 18.7 billion pieces, an increase of 5 percent with the growth rate falling by 8.4 percentage points. The textile industry realized total profits of 102.6 billion Yuan, down 0.7 percent year-on-year.

Among them, profits of textile industry marked 67.5 billion Yuan, an increase of 9.3 percent while profits of garment industry reached 31.7 billion Yuan, increase of 13 percent and profits of chemical fibre industry marked 3.4 billion Yuan, down 74.9 percent.

Fibre2fashion News Desk - China

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