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Exports to US record negative growth in second consecutive month
22 Mar '08
1 min read
After creating record export growth in 2007, exports from China recorded negative growth for the second consecutive month in 2008.
The statistics released by the Textiles and Apparel Office of US Commerce Department, reveal startling figures. China's total exports in the first 2 months of 2008 amounted to US $1.246 billion compared to $1.467 billion. This in effect translates to a negative growth of 15.03%.
Experts say that in spite of quota supply for the year being larger than the quota demand, China's textile industry will have a smooth sailing in 2008, which is the last year of quota restriction.
They also add that textile and garment exports in 2008 and even in the next three years will be to a great extent be determined by the orders received at the upcoming Canton Trade fair to be held in Guangzhou province next month.
The statistics released by the Textiles and Apparel Office of US Commerce Department, reveal startling figures. China's total exports in the first 2 months of 2008 amounted to US $1.246 billion compared to $1.467 billion. This in effect translates to a negative growth of 15.03%.
Experts say that in spite of quota supply for the year being larger than the quota demand, China's textile industry will have a smooth sailing in 2008, which is the last year of quota restriction.
They also add that textile and garment exports in 2008 and even in the next three years will be to a great extent be determined by the orders received at the upcoming Canton Trade fair to be held in Guangzhou province next month.
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