Home / Knowledge / News / Textiles / Growth rates show a declining trend

Growth rates show a declining trend

24
Mar '08
Statistics reveal that China's textile industry caught a cold in the first two months of 2008. In the first two months of this year, China's textile and garment exports touched US $16.44 billion, an increase of only 5.7 percent over the same period last year.

Over the same period, Guangdong textile and garment exports reached only US $3.52 billion, a decrease of 11.3 percent.

The slowdown has become a matter of concern for the textile and garment industry in general and trade associations are looking in to the reasons for the slow growth rate.

Order book positions are reducing and there seems to be a big gap between demand and supply. The enforcement of the new labour law has brought its own problems, including a hike in labour costs. With signs of recession in the US market, experts foresee markets to be bearish in the near future.

Since the textile industry is a highly labour intensive industry and one of the highest employment generators, any changes in the macro-economic policies and fluctuations in the global economy, creates an immediate impact on the fortunes of the textile industry.

Industrial experts are of the opinion that companies should use their resources in exploiting the huge potential of the domestic market, rather than competing in the overseas market in the short term.

The exchange rate is a big factor in foreign trade, so they also suggest trading in other strong currencies other than US dollar in order to avoid the risks caused by dollar depreciation.

Fibre2fashion News Desk - China


Interviews View All

Divyesh Mashruwala, Akshar Industries

Divyesh Mashruwala
Akshar Industries

Surat dominates foiling, embossing and pleating

Mohammad Mamun Ar Rashid, UL VS Bangladesh Ltd

Mohammad Mamun Ar Rashid
UL VS Bangladesh Ltd

Productivity, creativity and innovation play a vital role in the growth of ...

Victor Chao, Esmetex

Victor Chao
Esmetex

‘In future, clothing boundary lines will become increasingly blurred.’

Siddhachakra Weaving (Badiya Fashion),

Siddhachakra Weaving (Badiya Fashion)

Ahmedabad-based Siddhachakra Weaving Pvt Ltd was established in 2011 under ...

Christiane Thies,

Christiane Thies

Founded in 1892, Thies has concentrated on the fabrication of high-quality ...

Madhu Sudhan Bhageria,

Madhu Sudhan Bhageria

Incorporated in August 1990, Filatex India Ltd manufactures manmade...

Mohammad Hassan, Biax Fiberfilm

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Justin Gutierrez, INDA

Justin Gutierrez
INDA

The Association of the Nonwoven Fabrics Industry (INDA) has created a new...

S Ziya Gumuser, Teknomelt

S Ziya Gumuser
Teknomelt

Turkish nonwoven manufacturer Teknomelt has been around for only seven...

Pranav Mishra, Huemn

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

Sweta Agarwal, A Humming Way

Sweta Agarwal
A Humming Way

A Humming Way (AHW) is inspired by the old-world regalia of Rajasthan...

Wendell Rodricks, Wendell Rodricks

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


November 2019

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

Follow us on instagram

Follow

Follow Fibre2Fashion On

Follow Fibre2Fashion On


Advanced Search