China's textile export would attain stable growth in next 2 years
Source: CCPIT TEX Date: 2006-10-25
It is expected that China's textile and apparel exports would surpass US $120 billion mark this year, and hopefully, achieve steady growth in the following two years, according to the latest estimate from China Textile Import and Export Chamber of Commerce.
China's textile exports in the first eight months has achieved a trade surplus of US $79.42 billion, accounting for about 8 percent of the total surplus in China’s foreign trade.
Textiles have been one of the main industries contributing to its export, and also an important source setting up a trade surplus.
According to the Customs, in 2005 after the agreements reached with the US and EU over textile export disputes, China’s textile export value totaled at $91.36 billion in the first 8 months, representing a rise of 24.7 percent from the corresponding time of last year. But, exports to EU only increased 10.9 percent while those to US merely gained 5.7 percent.
In addition, many Chinese textile and apparel firms are worried by the fact that country's exports attract other trade barriers including anti-dumping measures by end of 2007 and 2008 when the textile agreements with EU and US expire.
