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Economic growth rate of textile industry slowed down in 2012

Economic growth rate of textile industry slowed down in 2012 Source: www.ccfgroup.com
Date: 18-02-2013
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The industrial output value of more than 37,000 textile enterprises above scale reached 5.781 trillion Yuan in 2012, an increase of 12.3 percent year on year, according to the news from China Textile Industry Association.
 
Economic growth rate of textile industry slowed down in 2012, first due to demand downturn in international market, total imports of textiles and clothing in the United States and the European Union fell 0.9 percent and 0.5 percent from January to November, respectively, year on year , resulting in insufficient orders of China's export enterprises; Secondly due to declined China's share in international market. As impacted by the wide spread between domestic and international cotton prices and other factors, China's share in import markets of the European Union and Japan maintained high levels of 73.2 percent and 40.1 percent from January to November ,respectively, year on year , but fell 1.8 and 1.1 percentage points compared to the same period last year.
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