Based on a rough estimate, China's export dependence of the textile and garment sector is about 30-40 percent of total output and from January to May this year, China's exports dropped by about 11 percent year-on-year.
However, domestic sales grew 15 percent and more than made up for the decline in exports. Therefore industrial added value of the output from the petrochemicals and spinning sectors and yarn production, still recorded stability.
In the first five months of this year, prices of petrochemicals, cotton and other textile raw materials fell 15-25 percent year-on-year, resulting in a price decline of final value added textiles, yarn, clothing and other products.
Taking exports to the US as an example, shipments of cotton yarn fell 24 percent; cotton knitwear fell 15 percent; cotton woven garments fell 2 percent and that of man-made fibre knitted apparel fell 10 percent.
In the first four months of 2009, exports to EU fell by 7.89 percent; Japan, 2.43 percent; South Korea, 38.1 percent; Hong Kong, 21.8 percent; other parts of Asia, 37.1 percent; Africa, 7.88 percent and Latin America, 20.86 percent.
Fibre2fashion News Desk - China
marketing@alchempro.com
