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Higher prices weaken China's exports of textiles and garments
Source: Xinhua |
June 1, 2012, Friday
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Print Edition
Print Edition
NEW figures have showed that China's textile and garment exports slowed drastically in the first four months of this year due to rising domestic cotton prices, falls in market share overseas and inadequate support from consumption at home.
The export value of textile and garments from January to April stood at US$71 billion, just 1.07 percent higher than a year ago, according to data released yesterday by the China National Textile and Apparel Council.
The growth rate witnessed a sharp decline from the 27.05 percent rise registered in the first four months in 2011, judging by customs data.
Exports of textile products grew 0.15 percent to US$30.73 billion while garment exports rose 1.77 percent to US$40.27 billion, the CNTAC data showed.
"The slowing exports were directly caused by higher domestic cotton prices," said CNTAC spokesman Sun Huaibin. The domestic price of 328-type cotton was 18,853 yuan (US$2,974) per ton as of May 25, up 5,460 yuan than its price in international markets.
The price gap has hurt the competence of the domestic textile industry, Sun said, adding the nation's textile exports will face an even worse situation if the gap fails to narrow in future.
He said the disparity has also led to lower market shares for Chinese textile and garment exports.
Along with rising domestic labor costs recently, Chinese textile and garment products in the US and Japan fell to 35.58 percent and 72.03 percent, respectively, in the first quarter of 2012, down 4.55 and 2.92 percentage points annually, Sun noted.
The export value of textile and garments from January to April stood at US$71 billion, just 1.07 percent higher than a year ago, according to data released yesterday by the China National Textile and Apparel Council.
The growth rate witnessed a sharp decline from the 27.05 percent rise registered in the first four months in 2011, judging by customs data.
Exports of textile products grew 0.15 percent to US$30.73 billion while garment exports rose 1.77 percent to US$40.27 billion, the CNTAC data showed.
"The slowing exports were directly caused by higher domestic cotton prices," said CNTAC spokesman Sun Huaibin. The domestic price of 328-type cotton was 18,853 yuan (US$2,974) per ton as of May 25, up 5,460 yuan than its price in international markets.
The price gap has hurt the competence of the domestic textile industry, Sun said, adding the nation's textile exports will face an even worse situation if the gap fails to narrow in future.
He said the disparity has also led to lower market shares for Chinese textile and garment exports.
Along with rising domestic labor costs recently, Chinese textile and garment products in the US and Japan fell to 35.58 percent and 72.03 percent, respectively, in the first quarter of 2012, down 4.55 and 2.92 percentage points annually, Sun noted.
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