In the first season of this year, the exchange rate of New Taiwan Dollars (NT$) increased by 7 percent, which adversely affected the local clothing industry, especially the nylon sector.
Zig Sheng Industrial Co Ltd, one of the most important chemical fibre manufacturers in Taiwan, recorded a huge loss because of this currency appreciation.
Reportedly, while the polyester chemical fibre manufacturers registered considerable losses, the filament processing units were capable of marking slight profits.
The major market for made-in-Taiwan polyamide is China and the trading unit is US Dollars. However, the credit terms always extend to 90 days, so, nylon industry suffered bigger losses than the polyester sector.
Besides, rise of production cost also added to the problems in Taiwan textile and clothing industry.
Fibre2fashion News Desk - China
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