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Textile industry growth pace slows

09
Jul '07
Customs Statistics reveal that during the first five months of this year, export of Chinese textiles and clothing increased by 15.6 percent compared to same period of last year. The growth rate for the year is expected to plunge by 12 percent, against 25 percent rise from previous year.

In 2006, foreign trade favourable balance of textile industry had provided a rosy picture depicting exports' heavy dependence on this sector.

From January to May Chinese trade surplus reached US $85.72 billion, which was nearly a half of the total foreign trade favourable balance of last year.

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