China's textile & apparel trade value up in H1

16 Aug '12

2 min read

China’s textile and garment exports faced an unfavourable situation in the first half of the current year.

Since China’s textile and apparel exports are strongly dependent on external demand, they suffered a heavy blow due to the debt crisis in Europe and the United states.

During the January-June period, China’s domestic growth rate slowed down, production costs increased, and domestic cotton price was much higher than world cotton price. All these factors together led to a slowdown in China’s textile production, decreased efficiency of enterprises, and affected the competitiveness of exports.

China’s textile and apparel export growth was lower than 2 percent in the first half, of which four months – January, February, April and June – witnessed negative year-on-year growth.

In June, China’s textile and clothing trade increased by 0.06 percent year-on-year to US$ 24.92 billion. Of these, exports touched US$ 22.89 billion, a decrease of 0.04 percent y-o-y and imports earned US$ 2.03 billion, a rise of 1.3 percent y-o-y.

In the first six months of 2012, China’s overall textile and clothing trade was worth US$ 125.05 billion, up 1.9 percent y-o-y. Exports fetched US$ 113.54 billion, increasing at 1.6 percent y-o-y, while it imported textile and apparels worth US$ 11.51 billion, up 5.1 percent y-o-y. Cumulative surplus rose by 1.2 percent y-o-y to US$ 102.03 billion.

Fibre2fashion News Desk - China

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