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Imports expected to bottom out earlier than exports

21
Aug '09
China's imports and exports are expected to pick up in the second half despite the continuing recessionary trends in the global markets. With a few countries of Europe recording economic growth, exports are expected to come out of a year-on-year negative growth trend by the end of the year.

Under the background of a strong economic recovery in domestic market and weak upturn in international markets, China's imports are expected to bottom out earlier than exports.

Customs data show that China's textile and apparel exports reached $16.37 billion in July, representing a year-on-year decline of 12.35 percent, but an increase of 21 percent from the previous month.

Among them, textile exports stood at $5.33 billion, a year-on-year drop of 13.6 percent and clothing exports touched $11.04 billion, a year-on-year reduction of 1.21 billion, but representing an increase of 8.61 percent from June.

Experts from the textile industry are cautiously optimistic about the data. They point out that the steady growth, each month sends a positive signal, which at least reflects some signs that the textile industry has bottomed out.

Government officials of relevant departments and banking sector are optimistic about the forecast of China's export situation in the second half.

The European Union, the United States and Japan are three major export markets of China's textiles and apparel and their demand directly decides the performance of China's textile and garment exports.

Fibre2fashion News Desk - India


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