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Export of textiles to S.E Asian markets soars

09
Sep '08
Japan is a major market of China's textile and garment exports. Textile and garment exports to Japan registered US $9.608 billion, a year on year increase of 6.82 percent.

Inspite of the gloomy outlook in Japan, China's exports to the country have remained relatively stable and have been gradually increasing every year.

However, with slowdown in Japanese economy and the consequent weakening of demand, a slackening of demand for goods from China is likely and even go in to a descent in the months to come.

Due to dwindling cost advantages, European and American customers have been prompted to shift garment processing orders to other southeast Asian markets, but this has not affected China in a big way. This is because industrial chains in these countries are relatively incomplete which invariably calls for import of raw materials and textiles from China.

Exports from the country to southeast Asian markets has therefore, witnessed a considerable growth in the first half of this year.

Textile and garment exports to Vietnam fetched $1.199 billion, marking a year on year increase of 70.14 percent. Of this textile exports, in particular, registered $1.012 billion, a surge of 53.16 percent.

On the same line, exports to Bangladesh scored $990 million, up 36.55 percent from the same time last year, of which, textile exports recorded an increase of 36.86 percent to touch $714 million.

Even exports to India soared by 30.89 percent from the corresponding period last year to reach $891 million. Of this, textile exports accounted for $863 million, an increase of 31.22 percent over the same period last year.

Fibre2fashion News Desk - China


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