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Textile profits surge in 2007

Apr '07
Higher production continued to bring pressure on textile exports. The Customs data last month showed that in February this year, China's textiles and garment export volume increased 71.14 percent on a year-on-year basis.

Growth rate of January-February was 30.1 percent higher over the expected 15-20 percent, the highest level, indicating that despite the continued RMB appreciation and various negative factors, textile exports have not been significantly affected.

According to the latest figures published by the National Development and Reform Commission yesterday, in the first two months this year, textile industry realized profits of 11.2 billion yuan, a growth of 38.7 percent. Among them, the profits of chemical fiber, textile, and apparel increased 2.2 times, 33.4 percent and 24.4 percent, respectively.

In January-February, the added value of textile industry rose by 17.9 percent over the same time last year, growth rate was 1.2 percentage points from the same period last year. Export shipment value hit 92.7 billion yuan, up 16.5 percent, representing 0.4 percentage points in growth.

Yarn output marked 2.6 million tons; cloth output registered 6.43 billion meters, increasing by 20.1 percent and 11.3 percent, respectively. Clothing yield showed 2.66 billion pieces, a boost of 18 percent. Chemical fiber output scored 3.47 million tons, a rise of 16 percent. Domestic cotton prices mounted up.

By the end of February, domestic cotton price index stood at 13,032 yuan per ton, up 39 yuan and 179 yuan per ton respectively from the end of January and the end of 2006, but at the same level with international market. During the first two months, textile industry realized profits of 11.2 billion yuan, a growth of 38.7 percent.

With trade surplus becoming a more serious problem, the upgrading of the textile industry remaining slow, plus the effect of the adjustment of the industrial structure still looking not significant, it has become an urgent task for the state to lower export tax rebate.

Fibre2fashion, News Desk - China

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