Textile Export Beyond Expectation

The General Administration of Customs released the export data in first 11 months on Dec. 13th: From Jan. to Nov., the total import and export reached 2677.28 billion USD, rising 36.3% from the same period last year. Of which, the textile export were 69.68 billion USD, rising 29.6%; clothes export were 116.93 billion USD, rising 21.2%. The export growth pace of textile and clothes, especially in the late half, went beyond the expectation.

One of the major reasons for this rapid growth is the economy recovery in EU and the US. The American, European and Japanese markets remain the leading position in Chinese textile and clothes export destinations. The consumption in the US and EU began to recover since late half of 2009, and it turned to stable since this May.

The export growth also connected to the raw material price soaring, inflation, labor cost rising, as well as the RMB appreciation. Watching the data of the US textile & clothes import, not only China, but also other major exporters kept rapid growth pace in the US market. The importers mis-estimated the textile raw material prices in late half led to the stock up in this period. Besides that, the anticipation of inflation, labor cost growth and RMA appreciation all drove to this rapid increase of Chinese textile and clothes export.