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Shift to processing trade boosts Qingdao textile exports

18
Jan '07
Qingdao Customs revealed that the textile and apparel exports of Shandong ports in 2006 showed steady growth. According to statistics, in 2006, the total textile and garment exports (including textile yarn, fabrics and finished goods, apparel and clothing accessories) of Shandong ports amounted to US $12.63 billion, an increase of 18.8 percent over the previous year.

According to the analysis, in 2006 the biggest highlight in textile and garment exports of Shandong was the restructuring of export trade mode, which changed to the general trade from the processing trade.

Textile and garment exports of general trade stood $7.19 billion, an increase of 20.6 percent, accounting for 56.9 percent of the total annual textile and garment export value; exports of processing trade were $5.39 billion, up 16.6 percent.

Meanwhile, the private sector witnessed rapid export growth. Textile and apparel exports from private enterprises reached $2.71 billion, an increase of 49.2 percent, higher than 30.4 percent of the overall growth rate.

State-owned enterprises exported $2.89 billion, a slight increase of 3.6 percent; foreign-invested enterprises, collective enterprises exported $4.8 billion, and $2.23 billion, gaining 17.2 percent and 15.3 percent, respectively.

In addition, looking at the export markets, exports to major markets realized steady growth. Exports to both, Japan and the EU, showed firm growth, representing $3.15 billion, $2.05 billion, and $1.71 billion, up 12.5 percent, 13.5 percent and 18.9 percent, respectively. Exports to South Korean saw a rapid growth of 27.2 percent at $1.95 billion.

Looking at commodities, textiles and clothing exports maintained smooth growing momentum. Textile exports were $6.38 billion, an increase of 19.4 percent. Garment exports registered $6.35 billion, a rise of 18.1 percent.

Fibre2fashion, News Desk - China


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