Home / Knowledge / News / Textiles / European crisis spells trouble for Chinese textile exports
European crisis spells trouble for Chinese textile exports
31
May '10
The impact of the 2008 international financial turmoil was slowly showing signs of tapering off, with exports from the Chinese textile and apparel sector registering positive growth since the last few months.

But the US unemployment rate in April 2010 unexpectedly rose again, along with the spread of sovereign debt crisis in a few countries of the European Union, has now once again raised concerns in the Chinese textile industry.

Europe is a major market of China's textile and apparel exports and the Euro started depreciating since April, since when the RMB has passively appreciated by 14 percent against the Euro, which can have an impact on textile and apparel exports.

A few products from the chemical fibre industry are exported. But a slowdown in fabric and clothing sales could have a greater impact on this very important segment as 48.8 percent of all textile and clothing exports are made from chemical fibres.

According to statistics of China Textile Industry Association, China's global apparel exports reached US $107 billion in 2009, of which those to Europe realized about US $28.409 billion, accounting for about 26.5 percent of clothing exports.

Home textile industry has less dependency on exports to the EU. China's home textile exports to the EU reached US $3.38 billion in 2009, accounting for about 17.91 percent of total textile exports.

But there are many within the textile and garment sector, which are more or less dependent on the countries of the European Union for their exports and it is this group will bear the full brunt in case the European crisis escalates.

Fibre2fashion News Desk


Must ReadView All

Textiles | On 26th Jul 2017

Q1 2018 revenue at Raymond soars 14%

The consolidated revenue of Raymond Limited for the first quarter of...

Textiles | On 26th Jul 2017

Textile Corp of America to create 1000 jobs in Tennessee

Textile Corporation of America Inc, a leading textile manufacturer,...

Textiles | On 26th Jul 2017

Leather & footwear industry expecting incentive package

India’s leather and footwear industry is anticipating an incentive...

Interviews View All

Victor Chao
Esmetex

‘In future, clothing boundary lines will become increasingly blurred.’

Ghanshyam Ghoghari
Kimora Fashion

Bridalwear is not about reds and whites anymore

Giovanni Pizzamiglio, Paolo Crespi & Riccardo Robustelli
Epson, For.Tex & F.lli Robustelli

‘The percentage share of printing in the global textile market is pretty...

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer <b>Prathyusha Garimella</b> is known for blending ...

Aditi Somani
Aditi Somani

Aditi Somani specialises in luxury fusion wear with international cuts and ...

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

July 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Thanks for your valuable feedback. Claim your free latest sustainability e-book.


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search



X