Chinese textile industry has maintained a fair growth rate in the Q1
Source: CCPIT TEX Date: 2006-06-19
Chinese textile industry has maintained moderate growth in the first quarter, though the growth of export to the EU and the United States recorded a sharp decline. Textile exports to the United States and European Union which set quota limits reached 8.37 billion U.S. dollars, growing only 9.7% increase, which is 47% points lower than the growth rate for the same period of 2005. The growth rate is 3.17% points higher than that of the same period in 2005 last year, according to China Textile Industry Association.
The garment exports during the first quarter have growth 22.16% year on year to 27.99 billion U.S. dollars.
Meanwhile, Chinese mainland's textile exports to Japan, Hong Kong, the Republic of Korea and the Association of Southeast Asian Nations, which have no quota restrictions, increased by 28.38%, up 23.32% points higher than the growth in the same period in 2005.
China's textile production is likely to see it grow by 20% and exports to grow 15% in 2006.
