Chinas textile industry to face severe market challenges-Texglobe

Chinas textile industry to face severe market challenges

Updated: 2010-5-25 Source: Texglobe-信息中心

China's imports and exports amounted to US $855.99 billion from January to April 2010, up 42.7 percent year on year, of which, exports reached US $436.05 billion, up 29.2 percent year on year; imports fetched US $419.94 billion, an increase of 60.1 percent year on year, according to latest customs data. China's textile exports realized stable growth in January to April this year,

Statistics show that China's exports of traditional commodities indicated steady growth, in the first four months of this year, China's total textile and apparel exports recorded US $53.79 billion, up 15.55 percent year on year, and 0.33 percent from the previous month.

In April, China's textile and apparel exports reached US $14.544 billion, an increase of US $3.539 billion or 32.16 percent compared with the previous month, and an increase of US $2.051 billion or 16.42 percent year on year; of which, April exports of textile yarn, fabrics achieved US $6.393 billion, up 24.84 percent year on year; April exports of apparel and clothing accessories marked US $8.151 billion, 10.57 percent year on year, the growth rate was 21.79 percentage points higher than the same period last year,

In addition, the industry believes that some major developed countries will see increased trade protection in the course of slow recovery in global economy, while many developing countries will continue to adopt protective measures, in order to compete for limited resources in the future, which will bring severe market challenges to China's textile industry.