China’s textile exports officially enter an inflection point
According to information provided by the China Chamber of Commerce for Import and Export of Textiles, the textile and apparel trade volume in 2016 was US$290.6 billion, down 6.1%, of which exports were US$267.25 billion, down 5.9%, imports were US$23.36 billion, down 8.8%, and the cumulative trade surplus was 2438.9 US dollars. billion, down 5.6%. Exports accounted for 12.74% of total domestic exports.
After falling by 4.9% in 2015, textile and apparel exports continued to decline in 2016, and the decline expanded to 5.9%. This is the first time in the past 20 years that China’s textile and apparel exports have declined for two consecutive years, with the decline increasing year by year, indicating that China’s textile and apparel exports have officially entered an inflection point and entered an adjustment cycle.
The main reasons for the decline in exports in 2016 include: slow economic recovery in major export markets and weak external demand; unstable external environment and increasing uncertainties affecting exports; continuous increase in enterprise production costs and further weakening of traditional advantages; transfer of industries and products As a result, the share of our products in the main markets has gradually shrunk; the prices of export commodities have dropped significantly.
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