Interviews
Textile industry marks sluggish trend
31 May '08
2 min read
It was noted from the monthly report for April 2008, that the US economic slowdown has affected Chinese import and export of textiles and garments significantly.
China's textile exports to the US have been marking a declining trend since the end of 2007 and recorded a shrink in market share. Meanwhile, export to Japan and South Korea was also sluggish. Thus, inventories were continuously on a rise.
On the other hand, there is strong competition in international market. The cost advantage of China's textile and garment industry is waning, in comparison to the neighboring developing countries. Now, Vietnam, India, Indonesia and other countries are attracting huge orders from many foreign importers.
According to statistics, from January to April, China's total textile and apparel exports registered US $50.323 billion, a year-on-year increase of 15.32 percent. Of these, textile exports including textile yarn, fabrics and products, formed $20.717 billion, up 25.13 percent.
Exports of clothing and clothing accessories marked $29.606 billion, an increase of 9.33 percent.
However, experts concern is the fact that, the import and export growth rate, during the period, fell almost to the lowest level in recent years.
Textile industry carries out more than 90 percent of foreign trade transactions in US Dollar. Analysts believe that, with considerable appreciation of RMB, China's textiles and clothing export industry is set to face some tough challenges.
China's textile exports to the US have been marking a declining trend since the end of 2007 and recorded a shrink in market share. Meanwhile, export to Japan and South Korea was also sluggish. Thus, inventories were continuously on a rise.
On the other hand, there is strong competition in international market. The cost advantage of China's textile and garment industry is waning, in comparison to the neighboring developing countries. Now, Vietnam, India, Indonesia and other countries are attracting huge orders from many foreign importers.
According to statistics, from January to April, China's total textile and apparel exports registered US $50.323 billion, a year-on-year increase of 15.32 percent. Of these, textile exports including textile yarn, fabrics and products, formed $20.717 billion, up 25.13 percent.
Exports of clothing and clothing accessories marked $29.606 billion, an increase of 9.33 percent.
However, experts concern is the fact that, the import and export growth rate, during the period, fell almost to the lowest level in recent years.
Textile industry carries out more than 90 percent of foreign trade transactions in US Dollar. Analysts believe that, with considerable appreciation of RMB, China's textiles and clothing export industry is set to face some tough challenges.
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