China : Garment export of Guangdong slumps in H1

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Garment export of Guangdong slumps in H1

30
Jul '08

In the first half of 2008, apparel exporters of China observed a decline in demand. Garment exports from Guangdong Province, the largest exporter in China, dropped by 31.3 percent from January to June; of this, exports from Shenzhen alone fell almost 58.3 percent during this period.

Industry insiders believe that, main causes which have hampered the exports of the region include upheaval in domestic and international trade market and industry restructuring.

According to recently published data from the General Administration of Customs, exports of domestic garment and accessories reached nearly US $49.96 billion from January to June. This showcases an increase of 3.4 percent from a year earlier, however, 18 percentage points decline when compared to same time of last year; far behind the growth level of 21.9 percent of national foreign trade exports.

Exports of textile yarn, fabrics and products scored almost $31.72 billion, a considerable rise of 26.8 percent.

Although Guangdong Province, accounts for 1/4 of national garment exports, clothing exports from the region has fallen this year.

According to Guangzhou Customs, during the first six months of the ongoing year, apparel and clothing accessories from Guangdong fetched approximately $10.8 billion, witnessing a substantial drop of 31.3 percent. Its contribution in national garment exports plunged from 32.5 percent in the same period of 2007 to 21.6 percent this year.

On the other hand, Shenzhen garment exports account for nearly half of Guangdong total apparel exports; from January to June this year, shipment from Shenzhen sharply declined to 58.3 percent.

Fibre2fashion News Desk - China

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