Textile & garment industry juggernaut slows down in 2008

When considering foreign trade from the textile and garment industry in China, general trade took a dominant position. In 2008, general trade from the sector registered US $127.89 billion, an increase of 3.8 percent and accounted for 69.1 percent of China's total textile and clothing exports, while shipments from the processing trade totaled to $40.41 billion, an increase of 4.7 percent.

Second, exports of private enterprises accounted for over 40 percent of all shipments from the sector. In 2008, China's exports from the textiles and clothing sector by the private sector fetched $79.3 billion, an increase of 11.1 percent; foreign-invested enterprises exported worth $60 billion, an increase of 10.5 percent and state-owned enterprises shipped $35.41 billion worth of goods, an increase of 0.7 percent.

Third, exports to the EU was the only bright spot in an otherwise near stagnant year, where exports grew very well, while exports to Hong Kong declined markedly. In 2008, exports to the EU touched $38.84 billion, up 37.9 percent; United States $25.36 billion, an increase of 1.8 percent; Japan $21.32 billion, up 8.3 percent; Hong Kong $15.99 billion, down 11.9 percent and ASEAN $111.9 billion, up 2.9 percent.


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