China – Guangdong exported textile and apparel products
by admin on Apr.12, 2008, under Export Import, Garment & Apparel, Trade & Market
In the Cina textile and apparel export in January and February, that is province of Guangdong exported USD 3.52 billion worth of textile and apparel products in January and February 2008, falling 11.3% from the first two months of 2007, citing customs statistics.
Shocked by the sub-prime crisis, the US and Europe, which offer the most textile and apparel orders to China, have been cutting their orders since the last year. The province’s export of such products to the US were valued at USD 280 million and USD 1.6 million in January and February, respectively.
The Chinese yuan has been going increasingly stronger, compared to the US dollar since 2007, resulting in a surge in textile and apparel companies’ currency exchange cost by 20-25%. Labor cost has been leaping in the country. The per capita salary for textile workers in a textile production base of the province has reached CNY 1,600 to CNY 1,700, up 20% from the previous year. Besides, prices of petroleum, transportation and raw materials like cotton have also been hiking.
Analysts said that another round of far-reaching assets integration was to come up into the industry in China. – SinoCast, Yarnsandfibers