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Textile machinery output & exports receives direct hit
Aug '09
According to statistics, as of the end of May, major economic indicators of the textile machinery industry saw slight decline in product sales and significant decrease in economic efficiency compared with the same period last year.

Total industrial output value of the industry reached 21.86 billion Yuan, down 6.40 percent year-on-year; sales income touched 21.82 billion Yuan, down 5.20 percent year-on-year and total profits amounted to 536 million Yuan, down 48.24 percent.

The number of loss-making enterprises totaled to 253, up 41.34 percent year-on-year. Sales profit margin stood at only 2.45 percent and the growth rate of product sales revenue clearly showed a decline.

According to statistics received from 1,020 manufacturers and compiled by the Textile Machinery Association, as of the end of May, export delivery value of textile machinery registered 1.47 billion Yuan, a decline of 47.70 percent year-on-year.

Jiangsu Province, Guangdong Province, Zhejiang Province, Shanghai Municipality, Shandong Province stood amongst the top in export value. Export delivery value of the five provinces and cities formed 88.94 percent of total export value.

Fibre2fashion News Desk - China

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