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T&C exports to witness fastest drop in 30 years
22
Oct '09
The Chinese textile and apparel sector which had charted a high growth path in exports from the sector, in the last few years, particularly beginning from 2000, is all set to see the fastest drop in 30 years.

According to Sun Ruizhe, Vice President of the China National Textile and Apparel Council, textile and apparel exports are expected to plunge by 10 percent in the current year.

Data culled from statistics maintained by the General Administration of Customs of China show that the value of the country's textiles and garment exports in the first nine months of 2009 amounted to $121.64 billion, down 11.17 percent year-on-year.

Mr Sun attributes the small improvement in the last month to the fact that foreign inventories were nearly empty and the upcoming Christmas season.

But it is difficult to tell whether the textile industry is really recovering, added Mr Sun.

Fibre2fashion News Desk - China

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