Interviews
Decline in Chinese textile exports began in Sept
29 Dec '11
1 min read
Although the industry was anticipating a decrease in growth rate in November textile exports, the decline rate was larger than expected.
The growth rate in textile shipments began to actually fall September onwards, when for the first time it fell below 20 percent year on year in 2011.
The growth rate progressively dipped to 10.4 percent in October, and then dropped further to 7.2 percent in November.
Industry insiders believe that the sharp drop in growth reflects that export orders have shrunk.
They attribute it to the economic downturn in Europe and high cost of production leading to orders shifting to other countries.
The growth rate in textile shipments began to actually fall September onwards, when for the first time it fell below 20 percent year on year in 2011.
The growth rate progressively dipped to 10.4 percent in October, and then dropped further to 7.2 percent in November.
Industry insiders believe that the sharp drop in growth reflects that export orders have shrunk.
They attribute it to the economic downturn in Europe and high cost of production leading to orders shifting to other countries.
Fibre2fashion News Desk - China
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