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China : Textile exports to EU & US slow down |
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2006-8-7
Textiles and apparel exports to the EU and the US dropped 45 and 70 percent, respectively, as compared to last year.
It had agreed with the EU and the US to limit the growth of its textile exports last year.
China's export growth of 10 categories of textile products to the EU would be limited between 8 and 12.5 percent annually from 2005 to 2007 and to the United States its exports of 21 clothing and textile categories to grow at 10 to 15 percent in 2006, 12.5 to 16 percent in 2007 and 15 to 17 percent in 2008.
It resulted in a decrease in exports by 31.71 percent and 29.69 percent to the United States and the EU respectively in the first half of the year to its corresponding period last year.
However, China's textile exports rose by 24.49 percent to other countries.
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