Growth-rate of textile & garment export slows down

26 Mar '07

1 min read

Textile and apparel export value declined in February, but the increase over the same period of last year was substantially higher than that in January. According to the statistics of the General Administration of Customs, in February 2007, China's exports of textile and apparel reached US $11.244 billion, declining 7.37 percent from last month, but increasing 71.26 percent over the same period last year. Growth rate was much higher than that in the previous month.

Exports of yarn, fabric and manufactured products were $3.822 billion, a rise of 57.38 percent. Clothing and accessories exports were $7.422 billion, a surge of 79.41 percent over the same time last year.

Though textile and apparel exports improved considerably over last year, the recent trend shows that general trade exports have declined and exports of processing trade have increased. It indicates that the competitiveness of China's textile and garment export has weakened.

In addition, the impact of some unfavorable factors such as trade restrictions, the RMB revaluation, the reduction of export tax rebate, lack of independent brands, some developing countries having strengthened their competitiveness, makes the export situation of China's textile and garment not so optimistic.

Fibre2fashion, News Desk - China

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