China’s textile exports to Vietnam & Bangladesh rise in H1

July 30, 2013 - China

China’s exports of primary textiles, mainly yarn and fabric, to Vietnam and Bangladesh showed an increase during the first six months of the current year, according to the Customs data.
 
Vietnam and Bangladesh were the main destinations for exports of natural fibre textiles from China, during the first half of 2013. The export earnings from these countries in the first half were US$ 1.39 billion (increased by 27 percent year-on-year) and US$ 11.4 billion (increased by 29.9 percent), respectively. 
 
The exports of textiles from the Chinese mainland to specially administered territory of Hong Kong also grew by 29 percent year-on-year to US$ 2.05 billion, from January to June 2013.
 
Overall, China’s textile exports registered a significant recovery in the first half especially in the exports of textile raw materials, textile machinery and apparel. 
 
Although showing clear signs of recovery, the Chinese textile sector still face difficulties owing to the rapid appreciation of the RMB and increasing labor costs.
 
According to the data by Customs, the total exports of Chinese textile raw materials and products registered US$ 123.26 billion in the first half of 2013, indicating an increase of 12 percent compared to the corresponding period of the preceding year. 
 
Out of the total exports of raw materials and products, natural fiber products exports were worth US$ 11.54 billion, an increase of 14.6 percent year-on-year, chemical and industrial textile exports were worth US$ 19.99 billion indicating a rise of 8.1 percent, apparel and accessories exports earned US$ 91.72 billion showing an increase of 12.6 percent, and textile machinery exports fetched US$ 1.17 billion which grew by 7.5 percent.
 
The chemical fiber textile products and industrial exports in the first half of the year amounted to US$ 19.99 billion indicating a year-on-year increase of 8.1 percent, of which US$ 1.42 billion worth of exports were to Vietnam where as the exports to the US indicated a decrease of 8.6 percent with exports worth only US$ 1.16 billion.