China's Clearance rate of restricted textiles less than 50% in Jan-Oct
Source: Fibre2fashion, News Desk Date: 2006-11-20
According to the Customs statistics from the EU and the US, China's restricted textile exports to the US and the European Union have shown a seasonal rising trend, but overall clearance rate is lower.
From January to October, the average clearance rate of textile export to the US in the 21 restricted categories was 37.36 percent.
The average clearance rate of textiles export to the EU in the 10 restricted categories was 46.52 percent, well below the required progress (83percent).
From specific categories, from January to October, among the 21 restricted categories exported to the US, the clearance rate of the products which reached or exceeded over 50 percent were category 332 (socks), categories 347 and 647, category 847 (cotton and man-made fiber trousers).
In the 10 restricted categories of Chinese textiles exported to the EU, the highest clearance rate was category 115 (flax and ramie yarn), which recorded 75.97 percent.
Category 5 and category 7 registered 55.98 percent and 54.47 percent, respectively, with others all below 50 percent.
Among the restricted textiles, it is expected that export to the US could only fulfill about 55 percent of this year's quota. Export to the EU will be limited to only 70 percent of the annual target.
Looking into the overall situation of China's textile and apparel export, China's export still shows a relatively rapid growth rate, mainly due to the fast growth of trade with the ASEAN, Southeast Asia, Africa and other non-quota areas.
According to Chinese Customs statistics, from January to September, China's textile and apparel export accumulated at US $105.582 billion, increasing 24.2 percent from the same period of last year, of which, apparel export reached $69.588 billion, up 27.6 percent. Textile export registered $36 billion, rising 18.2 percent.
During this period, export to the US increased by only 8.5 percent and export to the EU grew by 13.4 percent, representing a significant fall from the growth rates of 48 percent and 61.2 percent, respectively, over the same period last year.
