Polyester exports to China expected to rise by $ 1.4bn
18 Jun '05
1 min read
Federal reports shows that the Canada is now making much more money from exporting a key raw material to China's gigantic textile and clothing industry than it is losing in domestic output of the finished products.
Statistic figures depicts that exports of ethylene glycol that comes mainly from Alberta and which used by the China to produce polyester for textiles and clothing, recorded $797-million previous. That rise $423-million from 2003, it is expected that it will hit nearly $1.4-billion current year.
However, the Canadian textile and clothing production combined down by around $5.25 billion previous year from $5.6-billion in 2003, making a loss of $350-million.
Canadian exports to China rose 39 per cent to $6.6-billion last year, while imports from China climbed 30 per cent to $24.1-billion.
The report also shows the growth in trade between Canada and China retained in the first quarter of current year, with exports clocking in at $1.7billion. This was rise by $1billion from a year before.
marketing@alchempro.com
