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Textile exports to maintain slow growth

May '07
Reportedly, Ministry of Commerce issued 'notice of the second performance distribution project on 2007 textile exports to the US and EU'. There are 3,114 enterprises in the nation with second distributed quotas of 2007 textile exports to the US and EU. Guangdong, Jiangsu and other provinces make up the top five.

However, compared with last year, export growth of textile industry has clearly slowed down. Many senior experts of textile industry and Customs sources don't feel so optimistic about textile exports in the future, so the situation is grim to some extent.

According to the latest statistics, the increase of textile export orders has been limited this year. Although 2007 is the last year of EU quotas against China's textiles, it is difficult to judge by now whether the EU will extend import limits to 2008 or swift to other means.

Textile industrial experts point out that the slow growth of textile and garment exports this year is not accidental or the result of seasonal factors, but the inevitable results of cyclical changes in international market and market structure adjustment.

It is particularly noteworthy that exports to the two major markets (the EU and the US) will continue to be under repression of 'new quota system'. So the possibility of slow export growth is increasing.

Many textile enterprises are already reporting reduced number of incoming orders. Therefore, over the next several months, China's textile exports will continue to see slow development.

Fibre2fashion, News Desk - China

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