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ASEAN to be bulwark of Chinese textile exports

05
Mar '10
The economy has started to slowly recover in most of the ASEAN countries since the second half of 2009 and the pace of development continues to improve in 2010, thus becoming an important economic base to support the growth of China's textile exports to ASEAN.

According to published data, as the largest economy in ASEAN, Indonesia's GDP growth was 4.5 percent in 2009, Vietnam's GDP growth was 5.32 percent in 2009, exceeding its growth target of 5 percent; Thailand's GDP fell 2.3 percent, but better than expected decline of a negative 2.8 percent.

Singapore's GDP declined by 2.0 percent, however it significantly narrowed for the full 2009, when compared with the first half of 2009, when it stood at a negative 6.5 percent. According to the forecast by the Asian Development Bank, Southeast Asia's economy 2010 the region's economy is expected to wind back to the levels of 4 percent.

Fibre2fashion News Desk


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