According to statistics from China Textile Machinery Association (CTMA), as of end of February, major economic indicators of the textile machinery industry this year declined from the same period last year. Product production and sales continued to fall when compared with the same period of 2008.
Total industrial output value of the industry (current prices) registered 6.613 billion Yuan, a y-o-y drop of 16.62 percent; revenue of product sales registered 6.937 billion Yuan, a y-o-y reduction of 10.65 percent and total profit realized amounted to 71.1 million Yuan, a decline of 77.38 percent.
According to production statistics of 1,009 enterprises conducted by CTMA, as of end of February, export delivery value of textile machinery reached 3.99 billion Yuan, down 53.38 percent year-on-year. Jiangsu Province ranked first in production and exports of textile machinery.
Amongst the top five are Jiangsu Province, Guangdong Province, Zhejiang Province, Shandong Province and Shanghai city and the combined sum of export delivery value of the five provinces and cities accounted for 94.01 percent of China's total textile machinery export delivery value.
Fibre2fashion News Desk - China
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