China's imports and exports of textile machinery have continued to drop since the beginning of 2009. From January to July, total imports and exports of textile machinery fetched US $2.07 billion, down 43.63 percent year on year.
Of this, exports reached $665 million, down 32.80 percent year on year, to register the largest decline since 2001. In the same period of the previous year, exports had realized an increase of 10.84 percent.
Imports represented $1.409 billion, down 47.61 percent year on year, while imports indicated an increase of 0.15 percent in the same period last year; trade deficit marked US $744 million, down 56.23 percent year on year.
China's textile machinery is mainly exported to Asian region, of which 60.60 percent are exported to India, Bangladesh, China Hong Kong, Japan and Vietnam.
In the period under consideration, exports of textile machinery to India totaled $233 million, up 22.47 percent year on year, accounting for 35.01 percent of total exports. February saw the deepest decline (-19.88 percent) in exports to India.
Thereafter, exports increased for four continuous months since April with year-on-year growth averaging at 25.48 percent per month.
Imports from Germany totaled $478 million, down 38.73 percent year on year, accounting for 33.90 percent of China's total imports of textile machinery, but on a year-on-year comparison, it fell by 35.53 percent. January saw the deepest decline (-60.01 percent).
Fibre2fashion News Desk - India
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