With the cost of fabric going up continuously in the first half of present fiscal year, Chinese textile and clothing export quantity to America, Japan and EU may go down.
Clothing exports likely to witness a slump of by 2 to 5 percent. Because of this price hike, both export as well as domestic clothing prices will be affected. Main reason for this rise is increase in raw materials and accessories prices.
In 2006, China exported 1.12 million tons of knitting products, with an increase by 20.83 percent. The export value of the product was US $4.64 billion, with a rise rate of 27.05 percent. But in 2007 the cost of fabric will slow the rate of increase in percentage wise.
Experts suggested that the key to increase the value of export clothing will depend on new technology.
Fibre2fashion News Desk - China
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