The value of total output of Chinese textile industry above designated size is likely to be over 5 trillion Yuan in 2011, experts have estimated.
Industry experts estimate the production of cotton yarn in 2011 to exceed 28 million tons while that of chemical fibre to cross 33 million tons.
According to them, the export of cotton yarn increased by 11 percent and that of chemical fibre grew by about 15 percent and the entire textile industry exports rose by 20 percent.
The value of entire textile industry exports is estimated to be more than US$ 250 billion, but the volume is likely to remain at 2010 levels. The 20 percent growth in textile exports is mainly due to increase in prices.
The year 2011 was of ups and downs for the Chinese textile industry. The year began on a good note and the business was good in the first half. However, the cotton spinning industry started experiencing bad phase from May 2011. Knitting and other sectors felt tremors from September onwards, while the entire textile industry was passing through a difficult period by the end of the year.
At the Canton Fair, Chinese textile industry received orders for 2012, but experts predict exports to be much lower in the first few months of the current year.
Several cotton spinning and knitting firms, including some small businesses, have given a month-long holiday to their workers beginning from the New Year. This reflects that the textile entrepreneurs have not received enough orders and they do not perceive a good outlook for the first quarter. However, analysts expect the export situation to improve from the second and the third quarters of the current year.