China : Textile exports may rise more than 15% this year

Although Western countries have imposed quotas, Chinese textile exports are expected to grow at least 15 percent this year. However, rise in exports will be lower than 2006 figures because of rising production costs and a stronger yuan.

As per National Development and Reform Commission (NDRC) sources, textile sector may also witness a profit surge of over 15 percent in 2007.

Domestic firms exported textile products worth US $48.8 billion last year, up 18.7 percent from the previous year. While export of garments stood at $95.2 billion, up 28.9 percent from 2005.

WTO’s global system of textile quotas ceased with commencement of 2005. Exports went up consequently, with good logistics and lower pays enhancing China’s market share.