Home / Knowledge / News / Textiles / Taiwanese MMF sector looses from ASEAN-China FTA
Taiwanese MMF sector looses from ASEAN-China FTA
09
Feb '11
The latest statistics from Taiwan Bureau of Foreign Trade shows that since ASEAN Free Trade agreement with China came into effect last January, the 10 ASEAN members have achieved eye-catching performance in the Chinese market.

Their market share increased from 10.6 percent in 2009 to 11.1 percent in 2010, their export growth of eight man-made fiber products was also better than Taiwan.

While Taiwan's imports from and exports to the mainland hit record highs in the previous year, its market share in the mainland dropped from 8.5 percent in 2009 to 8.3 percent in 2010, showing that the complete integration of the ASEAN plus one (China) makes Taiwan face another rival – ASEAN in the Chinese market, in addition to the strong competition from South Korea.

According to 2010 cross-strait trade statistics announced by Taiwan Bureau of Foreign Trade, Taiwan's exports to the mainland reached US $114.75 billion, growing 37.1 percent year on year, Taiwan imports from the mainland amounted to US $37.58 billion, expanding 47.1 percent year on year, enjoying a surplus of up to US $77.17, an increase of 32.7 percent year on year, both hit record highs,

However, the Bureau of Foreign Trade estimates that growth rates of imports from and exports to China will slow down this year to 17.3 percent and 15.7 percent, respectively.

Taiwan Bureau of Foreign Trade analyzes that the China's largest source of imports still was Japan last year and its market share was 12.7 percent, down 0.3 percent from 2009. Taiwan's market share in the Chinese market stood at 8.3 percent, down 0.2 percent from 8.5 percent in 2009 and was the fifth largest source of China's imports.

However, after the FTA came in to effect the 10-member ASEAN has now become the third largest source of China's imports and its market share increased to 11.1 percent, 0.5 percent higher than in 2009.

Taiwan Bureau of Foreign Trade emphasized that export growth of eight man-made fibers products from ASEAN to the mainland was better than the growth rate of Taiwan; reflecting that Taiwan faces increased competitive pressure in the mainland market after the complete integration of ASEAN-China FTA.

Fibre2fashion News Desk

Must ReadView All

Courtesy: The Irish News/Christian Cowan (Google)

Fashion | On 24th Feb 2017

Google & Christian Cowan create 'really blue' jeans

Google has partnered with British fashion designer Christian Cowan to ...

Textiles | On 24th Feb 2017

Pakistan's textile exports down 1.54% in July-Jan FY17

The value of textile and garment exports made by Pakistan decreased...

Fashion | On 24th Feb 2017

Suntchi, CFDA partner to give US designers access to China

Suntchi (Shanghai) Brand & Technology Co Ltd, a full-service...

Interviews View All

Ghanshyam Ghoghari
Kimora Fashion

Bridalwear is not about reds and whites anymore

Kamlesh Vaghela
RK Textiles

Very few machinery manufacturers have R&D units

Poojaa Kumar Deepak
Zeven

Zeven's performance sports apparel is designed for the Indian body type,...

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

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
February 2017

February 2017

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

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search