CHINA: Apparel exports off to a strong start in January
China's apparel exports have got off to a strong start in the current year, with latest figures showing a surge of 13.4% year-on-year in January.
According to data released by the General Administration of Customs (GAC), apparel shipments from the country totalled CNY110.56bn (US$18.2bn), while textile exports jumped 11.7% to CNY64.44bn (US$10.6bn) from a year earlier.
The China Cotton Association also says that with textile exports remaining at a high level in January, and finished product inventory less than expected, the price of textile products was "raised slightly" during the month.
As reported on just-style at the beginning of February, China's exports of textile products and apparel reached US$283.9bn in 2013, up 11.4% from 2012, compared with only a 2.8% growth year-on-year in 2012.
And Chinese textile and clothing industry exports are expected to grow by at least by 8% year-on-year in 2014 thanks to the recovering US and European Union (EU) markets.
High domestic cotton prices have also been inflating costs for Chinese textile and clothing producers.
The Chinese government began selling off some of its national cotton reserves in November, and by Friday (14 February) had offered 1.33m tons for sale, the China Cotton Association said.
There are now plans to replace the national cotton reserve programme with a system of subsidies, which would help narrow the difference between Chinese cotton prices and the cotton price on the global market - largely lowering the cost for Chinese manufacturers.
An interactive databank with intelligence on the major apparel sourcing countries
- Under Armour defends questions over strategy
- Cheap polyester contributes to cotton import shift
- TPP trade pact in milestone signing by 12 nations
- Combating the new normal – 10 trends for 2016
- Gap deepens social and environmental efforts
- Bangladesh factory fire renews worker safety fears
- Syrian refugee children found in Turkish factories
- China factory activity continues to deteriorate
- Key Bangladesh safety issues still not fixed
- Southeast Asia – a strategic sourcing review
- Southeast Asia strategic sourcing review – a focus on Cambodia, Vietnam and Myanmar
- Wearable technology: The future market potential for smart garments and e-textiles
- Global market review of denim and jeanswear – forecasts to 2021
- Wearable Technology Market by Product, Application, Type, & Geography - Global Forecast to 2020
- E-Textiles: Electronic Textiles 2014-2024