In January-August 2006, cotton and chemical fiber textile industry completed an investment of 38.83 billion yuan, an increase of 34.7 percent over the same period last year. In January-September 2006, cotton and chemical fiber textiles industry completed an investment of 44.6 billion yuan, up 29.7 percnet, growth rate dropped significantly.
While the exports of preceding industry slowed, the downstream industries did well in exports. In January-September 2006, China's total exports of cotton textile and apparel amounted to US $40.979 billion, indicating a year-on-year increase of 33.21 percent. The contribution rates of cotton textiles and clothing were 16.87 percent and 83.12 percent, respectively. The contribution rate of cotton textiles dropped six percent.
The breakdown of cotton textile products showed, among the exports of US $12.122 billion worth of cotton texitle products, yarn accounted only for 11.46 percent, fabrics accounted for 41.36 percent. In the exports of cotton fabrics, the contribution rates of gray fabrics, yarn-dye products and printed & dyed cloth were 23.22 percent, 14.52 percent and 62.43 percent, respectively. According to the first three quarters of the exports statistics, the annual cotton textile and apparel exports are estimated to amount to $56 billion, an increase of 36 percent over the same time last year, in which, cotton textiles exports will reach about $17 billion.
From the products composition, primary products of yarns still mainly relied on imports. While yarn exports in 2006 increased by 28.47 percent over the same period last year, but due to the small base, the actual growth rate was only $300 million. The year-on-year increase of cotton fabric exports was 16.43 percent, but actual growth was 13.25 percent, after deducting price factors, dropped by nearly 6 percent from the same period last year, of which, the growth rates of cotton fabrics, yarn-dye products and denim were 2.69 percent, 5.19 percent and 0.18 percent, respectively, far below last year's level, only printed and dyed fabrics maintained a double-digit growth.
Clothing growth rate was 41.7 percent, an increase of 2.45 percent over the same period last year. Due to the higher base of garment exports, an increase of 2.5 percent represented a growth of $8.5 billion over the same time last year. It could be seen from this case, the export growth of cotton textile industry has further transferred into downstream chains. The export growth of high value-added products is the goal of industrial restructure in the sectors.
Fibre2fashion, News Desk - China
marketing@alchempro.com
