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Wenzhou markets rebound as footwear exports escalate

May '08
In the first quarter of this year, exports of Wenzhou City depicted a sluggish growth, however, from April the situation started to bounce back.

Statistics show that in April, the total export value of Wenzhou City reached US $965 million, reflecting a jump of 25.11 percent than the same period last year and of 47.1 percent than March 2008.

Local products were exported to 167 countries and areas of which EU, US, Russia and ASEAN emerged as the largest export markets for China.

Experts believe that credit should be given to traditional products like shoes for this rapid rise in exports. For the month of April, export value for footwear alone amounted to $178 million, up by 111.25 percent than the previous year.

However, because of the sub prime loan crisis, local exports to America have been considerably affected. Nonetheless, exports to EU, Russia and ASEAN have increased, reflecting a very strong demand for Chinese goods.

Fibre2fashion News Desk - China

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