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T&G exports to witness double digit decline in 2009 – Experts

14
Jul '09
Industry experts predict that China's total textile and garment exports will reach US $72 billion in the first half of 2009, resulting in the export growth rate dropping by about 9.31 percent.

Textile industry analysts predict that China's total textile and apparel exports are expected to fetch $157.77 billion in the whole of 2009, down 12 percent compared with 2008.

Year-on-year decline of textile and apparel exports in May, though was less than overall decline in foreign trade. The period from May to September may be the most difficult time for exports.

As it is a traditional off-season for exports and foreign trade orders accumulated from last year have been fully cleared, related enterprises will face greater operational pressure.

The textile and garment industry still faces more pressure and uncertainty in the second half, domestic market has not completely bottomed out, export market depends largely on improvement of external economic environment.

However, it is an indisputable fact that international textile market will hover in a low phase for a long time; textile enterprises cannot but avoid brutal competition for survival.

Fibre2fashion News Desk - China


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