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China : Textile exports to US & EU slow down in 2006 |
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2006-8-30
In the first six months of 2006, textile exports to the US recorded a slight year-on-year decline with 0.6 percent, first time in several years.
National Development and Reform Commission (NDRC) explained that the growth rate was adversely affected by the anti-dumping lawsuits and other restrictions.
Textile exports reached US $8.23 billion representing a 76 percent lower growth than in the same period last year.
Meanwhile, textile export to the EU also recorded a drop in its growth rate as the total amount valued at $9.5 billion, up only 10.3 percent from the same period of last year.
However, textile export to countries without any restrictions registered sharp growth like 44 percent rise at South Korea and the Association of Southeast Asian Nations (ASEAN), Macao with 63 percent while Turkey and Mexico up 221 and 155 percent, respectively.
The total earning from exports to countries other than the US and the EU amounted to around $44.75 billion representing year-on-year rise of almost 34.4 percent.
However, textile exports from other Asian countries to the US and the EU registered significant growth.
India's textile exports to the US rose by over 18 percent year on year.
Fibre2fashion News Desk - China
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