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Hubei's textile industry sustains growth momentum

15
Feb '12
In spite of several adversities like high cost of production and cotton price volatility, the textile industry in Central Chinese province of Hubei has succeeded in sustaining its brisk growth momentum by accelerating product development.

According to Hubei Economy and Information Technology Commission, the textile industry has greatly contributed to the province's industrial growth, backed by good market demand.

In 2011, Hubei's textile industry grew to 54.68 billion Yuan, with its growth rate touching 22.8 percent, significantly higher than 2010's growth rate of 14.3 percent.

Sector-wise, the garment sector growing at a rate of 33.9 percent year-on-year, contributed 54.4 percent to the province's industrial growth during the period. The textile sector grew by 18.8 percent year-on-year and chemical fibre sector by 27.9 percent y-o-y.

The period saw yarn, fabric and garment production rising by 26.1 percent, 52 percent and 57 percent, respectively.

Fibre2fashion News Desk - China


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