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Cotton textile exports to maintain negative growth
04
Mar '09
An official from the Ministry of Information said that the Ministry expects, China's exports of cotton textile and cotton clothing in the first half of 2009 will continue to maintain a negative growth, due to the impact of international financial crisis and the downturn in export markets.

This will in turn increase the competition in domestic sales leading to dumping of goods at low prices, which will mean more and more enterprises losing their already meager profit margins and which in the long term will affect the health of these companies and also increase unemployment in the sector.

China exported cotton textile and cotton clothing totaling to US $71.7 billion in 2008, down 0.41 percent year-on-year, of which textile exports registered $20.8 billion, up 14.16 percent year-on-year, while cotton apparel shipments touched $50.9 billion, down 5.35 percent year-on-year.

The official said, profit growth rate of the cotton textile industry would continue to fall and added by saying that since 2008, the government has unleashed a series of measures including procuring cotton and increasing export draw back rates to restore confidence in the cotton textile sector.

Fibre2fashion News Desk - China


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