Trade surplus of garment slows down
Source: Fibre2fashion, News Desk - China Date: 2007-12-07
National Development and Reform Commission released its economic operation report of for January-September 2007, showing that China's garment industry realized slight increase amid stability. Its trade surplus slowed down from the same time last year, even under the influence of RMB appreciation, export tax rebate adjustment, continued rising of costs and ‘Chinese manufacturing quality crisis’.
According to customs statistics, during the first three quarters of this year, China accumulated over US $85.57 billion of clothing and clothing accessories exports, up 22.9 percent on year, but growth rate fell from the same time last year.
The report showed that garment export unit price rose steadily, and product mix continued adjustment. From January to September, garment export unit price marked $3.26 per piece, up 13.9 percent on year, of which, cotton garment saw the largest price rise to 20.65 percent.
From January to September, export growth with Japan was relatively slow. China’s garment exports to the US and Japan accounted for 16.88 and 14.14 percent of the national total garment exports, respectively.
