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Textile exports may rise more than 15% this year
Detail
Although Western countries have imposed quotas, Chinese textile exports are expected to grow at least 15% this year. However, rise in exports will be lower than 2006 figures because of rising production costs and a stronger yuan. As per National Development and Reform Commission (NDRC) sources, textile sector may also witness a profit surge of over 15% in 2007. Domes-
tic firms exported textile products worth US $48.8 billion last year, up 18.7% from the previous year. While export of garments stood at $95.2 billion, up 28.9%t from 2005. WTO’s global system of textile quotas ceased with commencement of 2005. Exports went up consequently, with good logistics and lower pays enhancing China’s market share.
 
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