Home / Knowledge / News / Textiles / Hong Kong emerging as top hub for textile exports
Hong Kong emerging as top hub for textile exports
17
Oct '09
Hong Kong is now the world's third-largest textile exporter; its export volume and value are second only to China and India. But demand fall in major overseas markets in the past few months, due to global economic downturn, has also taken its toll.

Hong Kong's textile and fabric makers are unlikely to stand firm on their own. Hong Kong's textile exports in 2008 amounted to US $12.2 billion, down 8.8 percent compared with 2007.

Hong Kong's textile exports from January to August of 2009 reached US $6.5 billion and decreased by 22.8 percent compared to the same period in 2008. Of which, textile yarn accounted for over 26 percent and woven and knitted cotton fabrics also accounted for a big chunk.

Mainland China has been the largest market for Hong Kong's textile exports, according to data from the Hong Kong Census and Statistics Department, from January to August of 2009, Hong Kong's total exports of textile fabrics to the Mainland formed 71.9 percent, followed by Vietnam (4.8 percent), Indonesia (3.4 percent), Bangladesh (2.9 percent), Cambodia (2.8 percent), Sri Lanka (1.8 percent) and the United States (1.5 percent) and so on.

As of the end of 2008, Hong Kong had over 870 textile manufacturers, more than 4,000 companies engaged in textile trade, and more than 30,000 employees and is also an internationally renowned business hub, with branches of all major textile and apparel companies present.

Hong Kong is now the largest export market for Taiwan's fabrics; statistics show that Taiwan's exports to Hong Kong from January to August of 2008 accounted for 16.3 percent of its total fabric exports, far higher than its other major export markets.

Fibre2fashion News Desk - China


Must ReadView All

Courtesy: EVG photos from Pexels

Apparel/Garments | On 16th Aug 2018

Bangladesh ups garment export target to $32.689 bn

The Government of Bangladesh has increased the country’s readymade...

Indian investors interested in denim production in Vietnam

Textiles | On 16th Aug 2018

Indian investors interested in denim production in Vietnam

Indian fabric firms are shifting attention from China to Vietnam,...

India's textiles, apparel exports fall by ₹8000 cr: Govt

Apparel/Garments | On 16th Aug 2018

India's textiles, apparel exports fall by ₹8000 cr: Govt

India’s textiles and apparel exports dropped by nearly ₹8,000 crore...

Interviews View All

Luke Otten
Wigwam Mills Inc

Wigwam aims to recycle discarded yarn that doesn’t make it through the...

Pinkesh Jain
Everflow Petrofils Ltd

‘An innovative technology which India needs desperately is the...

Karan Toshniwal
Orange O Tec

Contemporary industry is paying more and more attention to the...

C Dhandayuthapani

MAG Solvics Private Limited was established in 1991 to design and develop...

Tejas N Patel, Navin D Patel

Founded in 1999 by Navin Patel in the name of Tejas Fabrics with 100...

Rajat Jaipuria

Activewear brand Soul Space promotes organic cotton farming and...

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Johan Berlin
Investkonsult Sweden AB

Investkonsult Sweden AB are consultants in the nonwoven and absorbent...

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Divvya and Nidhhi Gambhir
Walnut

<b>Divvya and Nidhhi Gambhir</b> started their career with the launch of...

Sonam & Paras Modi
SVA

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

Cigdem Akin
Cigdem Akin

She has carved a niche for herself as the national brand of Turkey. Her...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


August 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Advanced Search