According to the statistics, Shandong Province issued around 9792 textile export licenses in January 2008, a decrease of 5 percent compared to 2007.
Of the total, 1506 permits were issued for exports to United States, a decrease of 20 percent. Certificates for the European Union were 2059, down 5 percent.
By looking at the low number of certificates issued, market experts believe that textile exports in Shandong Province will face a grim situation ahead.
Although, the quantitative restriction of eight textile categories under monitoring system have been moved out, the number of issued certificates in January only grew by 7 percent.
The region enjoys advantages only in categories 2 and 39, but these are under fierce competition and face limited increase space.
Impacted by subprime loan crisis, growth rate of Shandong's textile exports to the United States obviously lack driving momentum.
Fibre2fashion News Desk - China
marketing@alchempro.com
