Difficulties in maintaining growth in textile and apparel exports to the United States today
Recently, data released by the China Chamber of Commerce for Import and Export of Textiles showed that in 2015, my country’s textile and apparel exports to the United States increased by 6.7% year-on-year, achieving gratifying results. During the same period, China’s textile and apparel exports overall fell by 4.9% year-on-year.
In this regard, Shen Danyang, spokesperson of the Ministry of Commerce, said at a press conference on the 17th that textile and apparel are my country’s traditional advantageous industries. He hopes that this year’s textile and apparel exports to the United States will continue to maintain a growth momentum, but face three difficulties:
First, affected by the slow recovery of the world economy, weak international market demand, and rising domestic factor costs, my country’s textile and apparel exports have currently experienced an overall decline and the growth rate of exports to the United States has slowed down. For example, looking at textile and apparel imports from Europe and the United States in 2015, EU imports dropped by 8.8 percentage points, while U.S. import growth was only 4%.
Second, some industries and orders have been transferred to low-cost countries such as Southeast Asia and South Asia, which has led to the rapid rise of the textile and apparel industries in neighboring countries and occupied part of our export market space to the United States. “However, it should be noted that some textile and garment enterprises in Southeast Asia and South Asia are also enterprises invested by China.”
Third, the currencies of some countries have depreciated significantly, causing the RMB to appreciate passively, weakening the price competitiveness of our products.
“To maintain the continued growth of textile and apparel exports to the United States this year, greater efforts must be made.” Shen Danyang said frankly.
AAA
Disclaimer:
Disclaimer: Some of the texts, pictures, audios, and videos of some articles published on this site are from the Internet and do not represent the views of this site. The copyrights belong to the original authors. If you find that the information reproduced on this website infringes upon your rights and interests, please contact us and we will change or delete it as soon as possible.
AA
