The year 2008 may see China's annual textile and garment exports exceed US $200 billion with an expected increase of 17 percent from 2007.
For the past few years, China has maintained 20 percent growth in its textile and garment exports and even in the period between January to October 2007, there was an increase of 19.4 percent.
Import and export value of textile and clothing for the year 2007 saw a rise of 17.4 percent accounting for 8.9 percent of the total value. Gross value for the same, grew by 19.1 percent accounting for 14.4 percent of the country's total export value.
China Textile Industry Association informed that textile and apparel trade surplus accounted for nearly 60 percent of China's over all trade surplus for the year 2007.
US, Japan and Hong Kong emerged as the major markets for Chinese products accounting for 37 percent of China's total textile and apparel export.
On the other hand, the major suppliers to China include Japan, Taiwan and South Korea whose garment and textile imports marked a year-on-year decline of 0.35, 1.87 and 2 percent, respectively.
Fibre2fashion News Desk - China
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