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Growth rate in added value of textile sector to rise
Jun '11
From January to April this year, the added value of large-scale consumer goods industry companies, increased 14.2 percent year on year, of which, April achieved a 13 percent growth.

Of which, added value of textile sector increased by 9.9 percent year on year, in the first four months of 2011. Among main products, yarn output achieved 8.46 million tons, an increase of 10.6 percent, fabric production completed 17.9 billion meters, up 15.7 percent and clothing output reached 7.37 billion pieces, a rise of 13.5 percent year on year.

From a price perspective, production of bulk agricultural and commodity products maintained steady growth. However, domestic cotton price declined rapidly.

In April, domestic cotton price index (328) stood at 26,927 Yuan / ton, an increase of 63.6 percent year on year, but down 3,201 Yuan / ton compared with the previous month.

Prices of polyester chips were 12,925 Yuan / ton, down 575 Yuan / ton from the previous month; polyester staple fiber stood at 13,500 Yuan / ton, down 900 Yuan / ton from the previous month and polyester filament yarn was 16,150 Yuan / ton, down 100 Yuan / ton from the previous month.

From the view of exports, textile industry realized an annual increase of 21.5 percent in export delivery value; the rate was 6.7 percentage points higher from the previous year.

According to customs statistics, from January to April, textile exports were US 28.9 billion and clothing exports were US $39.6 billion, representing an increase of 34 and 22.9 percent, respectively, year on year.

Many SMEs in the textile goods industry mainly rely on international market and are very sensitive to the appreciation of the Renminbi and rise of interest rates.

Some export-oriented SMEs in textile industry are feeling the heat of both and are on the edge of profit loss.

Several provinces have increased minimum wages in the past few months, due to which incomes have increased, in particular, the income of rural residents. Growth rate of added value of textile sector is expected to stabilize at around 14 percent in the first half this year.

Fibre2fashion News Desk - China

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