Home / Knowledge / News / Textiles / T&G exports from Guangdong seriously affected by crisis
T&G exports from Guangdong seriously affected by crisis
19
Jan '09
Textile and garment exports from Guangdong Province in 2008 reached US $34.13 billion, representing a year-on-year decline of 18.7 percent, from which shipments of clothing and accessories registered $25.35 billion, down 25.3 percent while exports of textile yarn, fabrics and related products fetched $8.78 billion, an increase of 8.8 percent.

The shipments, though, benefited from the country's introduction of improved export tax rebate policy in November and December. Exports from the whole sector touched $3.33 billion in December, hitting a new high for the year and up 0.8 percent from the previous month, but down 8.4 percent year-on-year.

Exports from the general trade marked $18.78 billion, down 31.4 percent, accounting for 55 percent of total textile and garment exports, while processing trade achieved $13.37 billion, down 0.3 percent, accounting for the rest of the total shipments from the sector.

In 2008, Hong Kong, the EU and US were still major markets for textile and apparel exports from the province. Among them, exports to the EU stood at $6.41 billion, a growth of 73.3 percent; exports to Hong Kong and the United States came to $10.81 billion and $4.15 billion, down 13.2 percent and 15.3 percent, respectively.

Exports to these three markets together accounted for 62.6 percent of total textiles and clothing exports from Guangdong Province. In addition, exports to ASEAN came to $2.68 billion, down 32.2 percent.

According to sources, two thirds of the companies from the sector in Guangdong province, are running in to medium to heavy losses or booking very marginal profits since the beginning of 2008.

Fibre2fashion News Desk - China

Must ReadView All

Courtesy: Reliance Industries

Textiles | On 24th Apr 2017

Reliance’s FY17 revenue from petrochemicals up 12.2%

Increase in prices across polymers and polyester chain has...

Textiles | On 24th Apr 2017

India, Kazakhstan to increase cooperation in textiles

Indian and Kazakhstan are deliberating upon increasing cooperation in ...

Textiles | On 24th Apr 2017

GST reflects 'One nation, One aspiration' spirit: Modi

Prime Minister Narendra Modi has said that the Goods and Services Tax ...

Interviews View All

Giovanni Pizzamiglio, Paolo Crespi & Riccardo Robustelli
Epson, For.Tex & F.lli Robustelli

‘The percentage share of printing in the global textile market is pretty...

Karin Ekberg
Leadership & Sustainability

Sustainable models are beneficial for brands, retailers and manufacturers

C. Dhandayuthapani
Mag Solvics Pvt. Ltd

ITME 2016 exploited our full strength like never before

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Steve Cole
Xerium Technologies

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

Iago Castro Asensio
RCfil Distribuciones S.L.

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

Jay Ramrakhiani
Occasions Elegance Wear

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

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

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
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