China's garment export up moderately
Wednesday, 16 July 2008
BEIJING, July 15 (Xinhua): China exported 49.96 billion US dollars of clothing and accessories in the first half of 2008, up 3.4 per cent and year-on-year with the growth rate 18.3 per cent less than in the same period of 2007, customs statistics show.
Meanwhile, the export of textile yarn, fabrics and products totaled 31.72 billion US dollars, soaring 26.8 per cent and 17 per cent higher year on year.
A report by China Customs attributed the moderate garment export growth to shrinking market demand, RMB appreciation, export tax rebate reduction and cost increase in labor and raw material.
Under such situation, according to industrial insiders, textile enterprises in China's coastal areas are focusing on Southeast Asian economies, which are boost textile industry with lower labor cost and favorable policies.
Meanwhile, the export of textile yarn, fabrics and products totaled 31.72 billion US dollars, soaring 26.8 per cent and 17 per cent higher year on year.
A report by China Customs attributed the moderate garment export growth to shrinking market demand, RMB appreciation, export tax rebate reduction and cost increase in labor and raw material.
Under such situation, according to industrial insiders, textile enterprises in China's coastal areas are focusing on Southeast Asian economies, which are boost textile industry with lower labor cost and favorable policies.