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Domestic silk market compensates loss in exports
28
Oct '09
It is learnt from the China Silk Autumn Fair 2009, held in Hangzhou that, since the outbreak of the global financial crisis, international demand for silk products has substantially reduced, which has led to a decline in China's overall exports of silk goods.

But the good news is that, the domestic market for silk products is growing steadily. According to statistics released by the " Report on 2009 China's Silk Industry Development", China's silk exports have shown negative growth for four consecutive years.

From January to August this year, China's exports of silk goods fell more than 20 percent, especially of value added silk products, which was down nearly 30 percent year on year.

At the same time, China's output of silk quilt has reached 7 million pieces per year at present, annual silk consumption by the quilt sector has touched about 15,000 tons and growing gradually.

Silk quilt enterprises maintained a growth of more than 20 percent in 2009, becoming a new economic growth point of the silk industry and a majority of the output is consumed in domestic markets.

Fibre2fashion News Desk - China

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