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July growth rate falls in exports of textiles & apparels
11
Aug '09
According to reliable news emanating from the textile industry, exports of textile and garments declined 12.3 percent year-on-year in July 2009. However, the textile industry has achieved a 4-month increase in industrial output and investment of fixed assets month by month.

Of which, investment of fixed assets recovered from nearly a 10 percent drop in January- February to a year-on-year increase of 6.35 percent in January-June. In the period January-July shipments from the sector touched $89.2 billion, down by 11.3 percent year-on-year.

The decline in exports of clothing and accessories expanded, dragging down overall exports. In July alone, exports of clothing and accessories fell by as much as 12.3 percent, with a jump of 3.8 percent in negative growth rate when compared to that in June 2009.

Experts also say that although, textile and garment export situation in recent months looked better than overall exports of the country, the industry has not showed the trend of export recovery and in the second half, China's export industry is likely to decline by 10 percent on an average.

Fibre2fashion News Desk - China

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