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Profit of textile industry may decline

21
Jun '07
Trade favourable balance from textile and clothing industry, last year, has shown rosy picture with US $129.2 billion, which accounted for 71 percent of total trade balance.

In the first quarter of the current year, the favourable balance of textile industry reached about 60 percent, and manufacturers will have to face an adjustment in the export rebate.

Wangyu, Vice Chairman of China Textile Import & Export Chamber, said that, this year, export rebate rate for clothing industry will decrease from 13 to 11 percent. It is a matter of concern for exporters that the profit would fall by 9.2 percent when export rebate rate drops by 2 percent.

However, Chinese textiles are 10 percent lower in price than same kinds of products available in international markets, creating a huge demand for these among overseas merchandisers.

Fibre2fashion News Desk - China


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