China’s Textile Industry Shows Signs of Recovery
September 15, 2009 There is growing evidence the Chinese government’s stimulus package is producing results, the Yarns and Fiber Exchange says.
China’s cotton textile industry saw a slight increase in output in the first five months of this year, according to data from the National Bureau of Statistics of China.
Yarn output reached 8.7893 million tons, up 9.02 percent from the previous year.
By the end of May, the accumulated fixed-assets investment in China’s cotton textile industry was up 4.13% to 24.834 billion yuan year-on-year.
The Downside
But exports of cotton textiles and cotton garments slumped 12.51% in the first five months of this year, compared to the same period last year.
Exports to China’s top five markets have all suffered negative growth in 2009:
• EU: Once quotas were lifted, cotton textile exports to the EU grew rapidly. But since the start of the global recession, exports to the EU have fallen since September.
• U.S.: Cotton textile exports to the U.S. dip further as consumption continues to shrink.
• Japan: Cotton textile exports to Japan stayed at lower levels last year, and growth turned negative this year.
• Association of Southeast Asian Nations (ASEAN): Amid all the gloom and doom, there’s a silver lining — cotton textile exports to ASEAN reached its 2009 peak in April.
• China (Hong Kong): From January to May, accumulated cotton yarn exports to Hong Kong plummeted 25.61%.
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