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Textile exports to face insufficient demand in first half this year

Textile exports to face insufficient demand in first half this year Source:
Date: 14-03-2012
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The China Textile Industry Association announced on March 6 that China's textile and garment exports showed a serious decline in volume last year, its year-on-year comparison only increased by 0.5 percent, exports will still face insufficient demand in the first half this year, the industry will see more prominent pressures, industrial exports are likely to show a negative growth in volume.
Sun Huaibin, spokesman of the China Textile Industry Association, said that growth rate of main economic indicators of China's textile industry showed a slowdown in momentum last year, particularly in growth of export volume and industrial profits, as being influenced by factors, such as the downturn in international market, fluctuations in raw material prices, constraints of financing environment. Of which, above-scale enterprises realized an annual profit of 295.642 billion Yuan, representing an increase of 25.94 percent year on year, but the growth rate fell 27.6 percentage points from the first quarter.
Currently, above-scale enterprises of textile industry maintain their operating rate over 80 percent, but some small, medium and micro enterprises in export processing sector face more obvious difficulties, the operating rate of industrial clusters in the Pearl River Delta is only about 40 percent

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