Since the beginning of the current year, the performance of China’s textile and apparel exports has been under pressure, owing to continuous increase in cost of production, the wide gap between domestic and imported cotton prices, and poor demand in global markets.
From January to July 2012, China’s overall textile and garment exports fetched US$ 141.58 billion, showing an increase of mere 0.3 percent year-on-year, according to customs statistics.
The growth rate was around 25 percent lower than the growth achieved during the same period last year, and 3.1 percent less than the growth rate seen in first quarter of 2012.
After adjusting price factors, China’s actual textile and garment exports rose by 2.9 percent year-on-year in terms of value during the first seven months of the current year, but decreased by 2.5 percent year-on-year in terms of volume.
Fibre2fashion News Desk - China