Mar '09
According to customs statistics, in January this year, the total merchandise exports from sectors involved in the those increases of export tax rebate rate reached US $48.55 billion and accounted for 53.7 percent of China's total export volume over the same period.
Merchandise exports of general trade of sectors associated with increase in drawback rates touched $28.09 billion, a slight decrease of 1 percent and accounted for 57.9 percent of China's total export, while merchandise exports of processing trade marked US $17.31 billion, down 25.5 percent.
Due to reduced working days in January, from amongst the main sectors, which benefitted from the hikes in drawback rates, the traditional labor-intensive textile industry exports declined 11.9 percent while that of plastics exports slightly decreased by 0.4 percent.
On the other hand, exports of clothing and accessories registered $10.42 billion, an increase of 5.9 percent; footwear exports scored $2.91 billion, up 10.6 percent; exports of furniture and parts realized $2.13 billion, an increase of 0.7 percent; bags exports fetched $1.15 billion, an increase of 8.3 percent.
In January this year, mechanical and electrical products which had its duty drawback rates increased three times reached $19.82 billion, down 21.6 percent. Excluding Chinese New Year factors, January exports of machinery and electronic products also realized a slight increase of 1.5 percent year-on-year.
Fibre2fashion News Desk - China
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