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Textile & garment trade surplus falls in March

May '07
According to Chinese customs statistics, the national import and export of textiles and apparel marked US $9.57 billion in March 2007, a drop of 21 percent from the same time of previous year.

Among them, exports were $7.98 billion, down 24.3 percent and imports stood at $1.59 billion, an increase of 1.5 percent. Country realized a surplus of $6.39 billion, a decline of 28.8 percent.

During January-March, the national imports and exports of textiles and apparel reached $35.36 billion, a boost of 13.6 percent.

Exports during the period were $31.36 billion, a growth of 14.9 percent; imports were $4 billion, improving 4.4 percent, achieving a surplus of $27.36 billion, a rise of 16.6 percent.

Cumulative increase in overall exports fell in March after a 'soaring' in February. National textile and garment exports fell quickly to only $7.98 billion in March. Monthly exports for the first time plunged under $10 billion since February 2006, a drop of 24.3 percent. This was also the first monthly export drop in nearly four years, leading the cumulative increase of 40 percent in the previous months down to 15 percent.

Imports showed the opposite direction to exports. In March imports grew 1.5 percent. Import growth in the first three months was 4.4 percent on average.

March surplus of textiles and apparel marked $6.39 billion, sinking 28.8 percent, the largest drop of monthly trade surplus in recent years. Accumulated surplus marked $27.36 billion, an increase of 16.6 percent, accounting for 58.9 percent of the total national goods trade surplus.

fibre2fashion, News Desk - China

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