Textiles show major economic growth

21 Mar '07

2 min read

It is learned from the China Textile Industry Association that the average unit price of textile and apparel exports finally increased by 10.14 percent in 2006. This shows that the industry has undergone an obvious change in the mode of economic growth. The situation of China's access to international markets on long-term low-cost has improved, the overall competitiveness of exports continue to enhance.

In 2006, sales revenue of textile industry showed a significant rise of 21.3 percent, with total profits rising 28.0 percent. This indicates that the profits growth of China's textile industry is over the growth of sales revenue. Industrial efficiency is further improved.

Meanwhile, China's textile exports no longer rely solely on quota market. According to customs statistics, in 2006 China's textile and apparel exports totaled US $147.09 billion, a year-on-year increase of 25.1 percent.

The value of general trade increased by 29.3 percent, its proportion reached to 72 percent. In other words, more than 70 percent of China's textile exports were shipped to non-quota markets. The dependence on quota markets of Europe and the US has been further reduced.

Of course, the textile industry is also faced with rising costs of raw materials, the revaluation of the RMB, trade frictions and other unfavorable factors, but according to the forecast, China's textile industry will continue to maintain a healthy and stable growth in 2007. Output growth will be above 10 percent, output value growth and export growth will be about 20 percent.

Fibre2fashion, News Desk - China

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