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Value added by textile industry grows in double digits

04
Nov '08
In the first three quarters of 2008, value added year-on-year by China's textile industry grew 11.2 percent however the growth rate fell by 5.4 percent compared to same period of 2007. Exports registered Yuan 580.8 billion, an increase of 7.3 percent, but down 7.3 percentage points from the same period of last year.

Yarn output reached 15.98 million tons while cloth output touched 41.7 billion meters representing an increase of 9 percent and 6.3 percent respectively. Clothing production marked 15.16 billion pieces, an increase of 5.9 percent.

Chemical fibre production achieved 17.98 billion tons, an increase of 2.4 percent. Domestic cotton prices rose slightly in the first half, but showed a rapid decline in the third quarter. By end of September, domestic cotton price index fell to Yuan 12,846 per ton, down 7.3 percent from the end of June, a year-on-year decline of 1.1 percent.

In the first eight months, textile industry as a whole realized total profits amounting to 72.7 billion Yuan, an increase of 4.3 percent. Separately, textile and garment industries realized a growth of 12.7 percent and 10.1 percent in profits respectively, but profits of chemical fibre industry fell by 47.1 percent.

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