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Downtrend in silk exports troubles sector

28
Nov '08
Silk Cocoons
The world financial crisis resulting in a slowdown in consumer demand has led to a decrease in exports of silk from China. Silk exports have maintained a sharp downward trend.

Customs statistics reveal that China's raw silk exports reached 763 tons in October, a reduction of 207 tons or down 21 percent from September and a drop of 191 tons or 20 percent from the same time last year.

From January to October, China's raw silk exports totaled 11,779 tons, up 3.1 percent year-on-year, but growth rate fell 2.1 percentage points from the first three quarters.

Due to the slowdown in exports, silk enterprises are facing difficulties forcing them to cut or stop production which again leads to a reduced demand for cocoon.

Data released from the National Bureau of Statistics reveals that, in October, fabric manufactured from silk from medium and big scale enterprises reached 776,820,000 meters, down 3.9 percent from September.

From January to October, China's total silk product output achieved 7,902,000,000 meters, a decline of 1.8 percent year-on-year.

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