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Textile industry profit in 2006 appreciable

03
Mar '07
According to the 2006 textile industry analysis report released by China Textile Industry Association, the textile industry realized a total annual profit of 88.294 billion yuan in 2006, an increase of 27.96 percent.

From January-December in 2006, China's textile industry exported US $147.085 billion, a year-on-year increase of 25.14 percent, with growth rate rising 4.45 percent compared with last year.

It should be noted that, in 2006, the added value of textile and apparel products increased. The export price index significantly gained by 10.14 percent. It clearly suggests that the competitiveness of China's textile industry has been further strengthened

China's textile and garment export markets and the regions became more and more diversified last year. The growth rate of exports to South Korean, ASEAN, Africa, Canada, Mexico, Turkey and other countries in 2006 was over 25 percent.

Affected by trade frictions, imperfect mechanism of sanctions and export quotas, growth of textile and garment exports to Europe and North America, sharply declined.

Fibre2fashion, News Desk - China


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