Zhenjiang’s textile products export volume and price dropped
From January to February, the Zhenjiang Inspection and Quarantine Bureau of Jiangsu Province accepted a total of 2,198 batches of export light textile products worth US$77.46 million. Compared with the same period last year, the batches and the amount dropped by 12% and 8% respectively. Among them, clothing, which accounted for 2/3 of the total export volume, totaled 1,354 batches, worth US$51.18 million, down 9% and 8% year-on-year. This is the first time that the Zhenjiang area’s exports of clothing have experienced a drop in volume and price since the textile trade quota system was abolished in 2005.
Since the second half of last year, the trend of export clothing has been relatively sluggish, and there has been no obvious turnaround so far. From the perspective of the international market, the European market has not yet emerged from the shadow of the debt crisis. Although the U.S. market is slightly better than the European market, it is still not optimistic. Both the number of corporate orders and prices have declined. From the perspective of domestic export enterprises, there is still uncertainty about the RMB exchange rate. Labor shortage and rising labor costs are increasingly causing trouble to enterprises. Coupled with the rising prices of raw materials, it is expected that garment export enterprises will face greater pressure this year.
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