The international financial crisis has severely affected China's textile and clothing industry and exports have sharply declined, according to an analysis report recently published by the General Administration of Customs.
Although there has been a trend of stabilization and recovery in the industry over the past two months, overseas market demand remains very weak and the risk of trade frictions is increasing, which is a cause for concern.
According to customs statistics, exports of textiles and clothing (including thread and yarn, textile fabrics, clothing and accessories) totaled 46.56 billion USD in the first four months of this year, a drop of 10 percent year-on-year. The rate of decline is notably lower than the 20.5 percent rate of decline in the nation's overall exports in the same period. The export of textiles and clothing accounts for 13.8 percent of China's total exports a proportional increase of 1.6 percent year-on-year.
The report said that overseas market demand has not recovered, in spite of the stabilization and rebound in China's textile and clothing exports in the past two months. A recent survey by the China Chamber of Commerce for the Import and Export of Textiles on 200 large textile enterprises showed that their export orders in the first half of this year dropped by between 20 and 30 percent.
At the same time, international protectionism has increased. In the first quarter of this year, the number of recall notices issued by the US Consumer Product Safety Commission on China's textiles and clothing rose nearly 20 percent year-on-year, while those issued by the Non-food Rapid Warning System of the European Union increased by 6.3 times.
By People's Daily Online