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Textile industry posts dip in export earnings

17
Sep '08
Impacted by higher NT yuan and raw material prices, the amount of foreign exchange earnings of Taiwan textile industry amounted to US $4.33 billion in the first half of this year, down 3.3 percent from the same time last year.

The annual export value of Taiwan textile industry is targeted to reach US $11.6 billion this year, mainly driven by the growth of weaving sector.

However, with soaring prices of raw materials coupled with sub-prime credit crisis in the US, buyers have taken a conservative attitude and even the business challenges faced by the textile industry is greater than in the previous years.

In striking contrast to this were the imports that showed a sharp gain of 6.8 percent, mainly driven by import surge of garment and cloth products.

Fibre2fashion News Desk - China


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