TAIWAN: Fabric Exports Continue To Climb
Taiwan's fabric exports continue to boom, with the exception of the unfinished fabrics market, which fell by 13 per cent compared with last year, the Taiwan Economic News reported yesterday.Synthetic fabrics formed the staple of exported fabrics during the first half, with export value of nearly US$1.3bn. The corresponding half-year export volume of 250,000 metric tons also rose to 9 per cent. Woven fabrics from natural and synthetic spun yarn registered half-year export value of US$720m. The corresponding export volume of 99,000 metric tons soared by 4.2 per cent, the Taiwan Economic News said.However it is unclear whether growth will continue to accelerate at the same pace now that China and Southeast Asian countries have cut their prices in a bid to get in on Taiwan's act, Tsai Jin-shy, the Taiwan Textile Federation's director, said earlier this month. "Mainland China and Southeast Asia cut prices in July," said Tsai. He added that the weakness in Southeast Asian currencies also put Taiwan textile products at a disadvantage. Growth has already started to falter, with July's textile exports lagging at 8.1 per cent while increases for all exports stood at 36.5 per cent, commented the Ministry of Finance. Taiwan imported US$234.4m of textile products in July, down 5.8 per cent on-year, compared with July's 41.9 per cent growth in total imports, Ministry sources said.
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