Post MFA, textile exports show downslide at 5.7% in H1

25 Jul '05

2 min read

Ending of textile quotas have brought a of 5.7 percent in textile exports from Taiwan to US$5.95 billion during the first half, this year which has been the mainstay of foreign exchange earner for the country, revealed customs statistics.

Garments among them recorded the steeped fall of 24.6 percent followed by gauze cloth by 4 and other textile products by 2.4 percent.

On the other hand, imports touched US $1.311 billion thus earning the country net foreign exchange income of $4.64 billion, which is down 7.4 percent over last year's $5.013 billion.

Industry observers say elimination did not bring in the desired results and mainland China's efforts to slowdown its economy was another reason cited. The effect was complete when appreciation of local currency marred better exports performance despite the obstacles facing the industry.

The textile industry had been Taiwan's largest earner of net forex income until 2004, when the industry scored net forex income of US$9.85 billion, slightly lower than the corresponding figure of US$9.94 billion recorded by the electronics industry. Many worried that forex income earned by the textile industry could hardly stay at the US$9 billion level for this year.

The world's market trend for textile products has changed so fast in recent years, and Taiwan's textile industry has thus been forced to develop more high-end products with such functions as anti-bacteria, anti-ultraviolet rays, anti-odor, and perspiration-absorption & quick drying.

It is reported that the global market for textile products is estimated at over US$220 billion per year, with half of which supplied by Western Europe and half by Asia. Taiwanese textile manufacturers are encouraged to fabricate more innovative upscale products and be more aggressive in the world's arena.

Government of Taiwan

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