Export of Textiles and Garment by Shandong Dropped in the First Three Seasons

From January to September, Shandong province exported textiles and garments amounting to US$ 15.56 billion, increasing 22.9% over the same period of last year; the export of textiles totaled US$ 7.46 billion, up 18.2%, and garments of totaled US$ 8.1 billion, up 27.5%. The growth tended to drop in the first three seasons.

Although the export by Shandong kept a steady growth but the trend was not optimistic.

Firstly, the export growth went down season by season. In the first three seasons, the export accumulated to 33%, 24.2% and 22.9% in growth, which showed a drop seasonally.

Secondly, the markets in European countries and USA were weak in demand, the export to those markets shrank in growth; in the first three seasons, the growth rate was 33.4%, 31.4% and 27.6% each in export to EU accumulatively and 16.1%, 9.5% and 8.5% each in export to North America accumulatively.

Thirdly, the pressure of RMB appreciation was higher and profit margin then was smaller, the enterprises therefore were suffering.

Fourthly, international competitiveness was sharpened, the countries like India, Pakistan, Bangladesh, etc. which were newly rising countries in developing textiles and garment rapidly in recent years and were more aggressive in the world with their lower costs.