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Chinese textile & clothing exports post new highs
09
Jul '10
China's textile and garment exports increased by 33.5 percent year on year in May, export value set another new high within the year.

In May of this year, China's textile and apparel exports continued an upward trend from April, according to custom statistics. May export value reached the highest level since the beginning of the year, exports jumped more than 30 percent year on year.

Import value was flat with April, while imports continued to increase year on year. China's textile trade achieved a surplus of US $14.74 billion in May, accounting for 75 percent of China's total trade surplus, an increase of 34.5 percent year on year.

From January to May, China's imports and exports of textile and apparel realized rapid growth, of which, exports increased 19.2 percent and imports increased 20.2 percent. The accumulated surplus amounted to US $62.72 billion, up 19.1 percent year on year.

The situation in textile and apparel exports began warming up after entering the second quarter; both export volume and value gained in April and May. May exports marked US $16.4 billion to grow by 33.5% year on year, second only to February.

Exports totaled to $70 billion from January to May, the figure which has exceeded the level attained in 2002 to rise by 13.9 percent compared with the same period in 2008.

Imports were stable. Value changed little in the last three months, at about US $1.7 billion each month. May imports increased by 25.2 percent year on year, unchanged with the same period in 2008.

Fibre2fashion News Desk

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