Editorial: Textiles and Clothing in China: Competitive Threat or Market Opportunity?
- ID: 586946
- January 2008
- Region: China
- 3 Pages
- Textiles Intelligence
The growth of Chinese textile and clothing exports to the world’s markets shows few signs of abating.
During the first eight months of 2007 exports rose by almost 20%, compared with the corresponding period of the previous year, to reach US$111.7 bn. Of this total, clothing exports were worth US$74.9 bn, 22% more than in the first eight months of 2006, while textile shipments were up by 14% to US$36.9 bn.
The fastest growth was in sales to the USA. At US$21.0 bn, these were up by 28% in the first eight months of 2007. Sales to the EU were also buoyant, having risen by 21% to Euro18.4 bn (US$24.6 bn) during the same time period. Sales to Japan, by contrast, were relatively sluggish. At ¥1,951 bn (US$16.4 bn) during January- September 2007, these were up by a more sedate 4%.
The low rate of growth in sales to Japan reflects the fact that China’s penetration of the Japanese market is already extremely high, and has been for some years. In 2006 China supplied 76.3% of Japanese clothing imports compared with only 30.7% in the EU and 29.5% in the USA. China’s penetration of Western clothing markets, clearly, still has a long way to go.