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Export situation of chinese textile and garment to remain grim (china)

Export situation of chinese textile and garment to remain grim (china) Source:
Date: 08-08-2012
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While making a survey in Jiangsu Province on August 2,president of China Textile Industry Association Wang Tian Kai said, exports of Chinese textile industry continued to drop in the first half of this year without a fundamental improvement, the gap between export growth of textiles and national export growth widens, export situation is expected to remain grim.

The data released by the Monitor and Coordinating Bureau under China Ministry of Industry and Information Technology showed that export value of textiles and clothing rose 1.3 percent and 1.9 percent year on year, respectively, in the first half, the growth rates fell compared with the first quarter.

China's exports recorded a 9.2% increase in the first half of this year.

"First of all, the pressure is from the spread between domestic and foreign cotton," said Wang Tiankai. Currently, the widening spread continues to weaken international competitiveness of China's textile industry. Due to poor demand in international market, international cotton prices have been tumbling from September 2011, the spread is widending with domestic market price.

In addition to cotton spread, it can not be overlooked for further weakening of competitive advantages of China's textiles.

"Especially,processing orders of affordable products continue to transfer to neighboring countries, and the trend is increasing,”said Wang Tiankai, due to rising costs of production and management,traditional competitive advantage of China's textiles has weakened,orders are transferring to India and other neighboring countries.

The Association expects that export situation of Chinese textile and garment will remain grim.
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