Textile & apparel sector gains from domestic consumption
September 07, 2009 - China
Relevant data in recent years proves that the contribution rate of China's industrial economy to the GDP is more than 50 percent and the textile industry has attained the most international competitive edge in China's industries.
China's textile industry has been seriously impacted by the global financial crisis over the past year. From January to February of this year, value growth rate of 50,000 big and major fell to 5.8 percent.
Domestic sales growth is the key to maintaining smooth operation of industrial economy. Although exports from the sector have shown an average negative growth rate of 10 percent in the past one year, domestic demand has rapidly recovered.
Proportion of domestic consumption in sales volume has grown from 77 percent last year to 80.07 percent this year. According to statistics from 50,000 big enterprises in the period February to July, cumulative growth rate of domestic output has increased progressively in each month.