Although textile enterprises are facing many negative factors, such as tight funds, increased stockpiles, RMB revaluation and reduced export tax rebate rate, yarn production has still maintained rapid growth.
According to the State Statistics Bureau, in March 2007, yarn output reached 159.18 million tons, an increase of 37.3 percent over the previous period, a year-on-year rise of 21.2 percent.
After a substantial decrease in growth of last month, March growth rate returned to the level of a few months ago. Yarn output of the first quarter this year totaled 4.171 million tons, a year-on-year climb of 21.6 percent.
In 2006 cotton year (September 2006-March 2007) yarn output amounted to 10.56 million tons, a year-on-year boost of 19.6 percent.
In March, China's textile and apparel exports showed substantial decline in growth rates both in period and year-to-year comparison.
According to customs statistics, in March 2007, China's exports of textiles and garment were US $7.98 billion, a fall of 29 percent from the previous month, a drop of 24.3 percent from the same period last year.
Exports of yarn, thread, fabrics and manufactured products marked $3.296 billion, less $526 million from the previous month, down 19.96 percent by year-on-year basis.
Exports of clothing and clothing accessories were $4.672 billion, down $2.75 billion from the previous month, decreasing 27.25 percent by year-on-year basis.
In the first quarter of this year, total exports of textiles and garments were still growing.
In January-March 2007, exports of textile yarn, fabrics and manufactured goods registered $11.12 billion, a surge of 9.8 percent comparing with the same period last year.
Exports of clothing and accessories scored $20.23 billion, swelling 17.6 percent over the corresponding time last year.
Fibre2fashion, News Desk - China
marketing@alchempro.com
