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Textile industry to continue rapid growth in 2007

Mar '07
In 2006 textile industry maintained a rapid and healthy development compared to 2005. The average annual economic indicators increased substantially. The industry is expected to continue the development momentum in 2007.

In 2006, the main product categories of textile industry maintained a steady growth, but the growth rate was down from the same period of the previous year.

From January-December, above-scale textile enterprises produced 17.2224 million tons of yarn, up 19.86 percent over the same time of the previous year; completed 43.787 billion meters of fabrics, up 14.84 percent. Manufactured 17.00191 billion pieces of apparel, up 11.86 percent; accomplished 20.2549 million tons of chemical fiber, up 12.94 percent.

Textile industry had more than 39,422 above-scale enterprises in total, up 9.57 percent from 2005. The accumulative industrial output value amounted to 2.501689 trillion yuan, a year-on-year increase of 21.6 percent over 2005. The accumulative total profit marked 88.294 billion yuan, up 27.96 percent.

Textile and apparel exports in 2006 continued smooth, healthy and rapid growth. In January-December, the exports of textile industry reached US $147.085 billion, a year-on-year increase of 25.14 percent. Growth rate was 4.45 percent higher than the same period of 2005. Imports scored $18.051 billion, a year-on-year increase of 5.57 percent.

Textile and apparel exports in 2006 showed many bright spots, such as export value increased, export prices index rose significantly, and export markets stepped into growing diversification

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