Trends in Global Textile Trade Stay Unchanged
Source: bharattextile Date: 2007-05-08
Major trends in textile trade stayed unchanged to the benefit of poorest Asian countries such as Bangladesh, Cambodia and Vietnam. Share of processing trade is on the decline to the detriment of US and EU textile producers.
Quotas that were reimposed on China's products had no radical effect on global textile and clothing trade, said the WTO (World Trade Organisation).
The Geneva's body said that "structural changes in world trade of textiles and clothing continued unabatedly."
China's exports were not affected by US and EU limits that were set in 2005.
China's shipments of textiles and clothing even rose 25% in US$ terms in 2006, compared with a 21% increase in the prior year due to a strong development of sales to other destinations than the United States and the European Union.
EU and US quotas apparently limited the growth in textiles and apparel imports from China that were only up 15% and 10% in US$ terms, respectively.
Imports of Chinese products by Canada only rose 22% at the same time, although Ottawa did not reimpose quotas.
