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Export of textile products to US witnesses a sharp decline

07
May '08
For the ongoing year, exporters of Chinese textile products to USA will see a host of advantages and disadvantages coming its way and the latter is more likely to outweigh the trade scenario.

The only vantage point in favor of China is that the textile products are likely to get more market share in US which means that greater quantity of finished goods and raw material can be exported by the country, fetching greater revenues.

The disadvantages are equally storming as RMB appreciation, rising cost of production due to new labor law and diminishing profits of textile entrepreneurs have ensure to keep the export front in a dismal state.

Despite adequate quota, Chinese exporters are finding it difficult to tap the markets in the US because of stiff competition from other countries. Besides, the American textile industry will surely implement trade protection measures aiming to restrict influx from China. This will cause damage to the stableness of the Sino-American trade policy.

Statistics for the month of January 2008 discloses that the quantity of textile products imported by US went down by 3.8 percent marking an import value decline of 4 percent. Quantity of imports from China in particular, went down by 3.1 percent with value declining by 7.7 percent.

Fibre2fashion News Desk - China


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