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Textile exports to improve in 2nd half of 2008

09
Sep '08
Recently, experts reported that export of Chinese textile and clothing industry is most likely to grow in the second half of 2008. They said that although restrictions and problems that the industry has been facing since the beginning of this year would still be there, other factors will push up exports.

Reportedly, shipments to the US are estimated to rise. Especially, Mainland China is expected to obtain substantial increase in main categories under trade quotas in 2008. These products will see major opportunities in the US.

For instance, US imports of category 338/339 (cotton knit shirts and women's blouse shirt) may go up as much as 31.5 percent from 2007 and imports of category 347/348 (cotton trousers) could increase by 27.4 percent.

Meanwhile, the US imports of category 352/652 type (cotton underwear) could improve by 27.6 percent and imports of category 340/640 (men's and boys' woven shirts made from man-made fiber and cotton) could boost up to 33.5 percent.

It has been noted that in the first half of 2008, percentage of quota utilization was low among textile enterprises. Thus, experts explain, companies will rush to complete their 2008 quotas by taking maximum advantage of the potential opportunities.

Besides, manufacturers in the Mainland will continue to expand their businesses in quota-free products.

Meanwhile, Hong Kong's textile and apparel trade with the US will mostly rely on Outward Processing Arrangement (OPA) with the Mainland.

However, the demand of co-production between the Mainland and Hong Kong will decrease, resulting in reduced textile and apparel exports to the US by Hong Kong.

Fibre2fashion News Desk - China


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