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China's export of clothing to asean rises sharply

China's export of clothing to asean rises sharply Source: www.ccfgroup.com
Date: 03-02-2013
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Along with the construction of China-ASEAN Free Trade Area (CAFTA), textile trade developed rapidly between China and ASEAN. Both sides began to reduce tax on the normal goods from 2005. From 2005 to 2011, trade volume increased by two times, the average annual growth of 23.1%,of which China exports average annual growth of 23.4%, imports rose 20.2% every year. In 2012, the importance of ASEAN have further promoted in China textile clothing export market.

From January to November 2012, the textile and clothing exported to ASEAN total amounted to USD 23.55 billion, accounted for 10.2% of total exports, expanded by 2 percentage points than 2011; Exports grew 33.5% y/y, ASEAN has become the main force in overall exports instead of the EU.
 
November 2012, exports to ASEAN were 2.8 billon US dollars which more than Japan, close to the USA. September reach an increase of 57.6% following the high growth y/y, of which the export of yarn and fabric’s growths 17.9% and exports of clothing growths 167.4%.
 
In addition, November 2012, China’s exports to Japan fell 6.1% to 2.26 billion USD, of which exports of textiles and clothing all drop by 8.1% and 5.6%. 1~11 month, our country to export total 25.03 billion USD, only slightly increase by 0.6%, which less than the average level of the global export.
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