Ningbo textile exports flourish in difficult times

18 Jan '07

1 min read

In 2006, textile exports encountered a several obstacles with quota limitation on exports to EU and the US, RMB appreciatiations, and export tax rebate rate lowered. However, the strategy of market diversification enabled Ningbo to achieve the success of breaking through US $10 billion in textile and apparel exports

According to the Ningbo Customs statistics, in 2006, the total textile and apparel exports of Ningbo Port amounted to $11.43 billion, an annual growth of more than 37 percent over 2005, of which, textile yarn, fabrics and finished products registered $6.28 billion clothing and clothing accessories stood $5.15 billion.

EU and the US took the top two, with trade value of $2.15 billion and $980 million, respectively, together they accounted for 27.4 percent of the total exports, while the United Arab Emirates, Russia, Benin, Iran, Pakistan and other emerging markets grew rapidly.

Among them, the growth rates of Russia and Pakistan reached 97.6 percent and 96.3 percent, respectively. Private enterprises exported $4.84 billion of textiles and garments, ranking the first.

Fibre2fashion, News Desk - China

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