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China : Textile exports to EU & US plunge

2006-8-11

China National Textile Industry Council (CNTIC) informed that growth rate of country's textiles and apparel exports to the EU and the US dropped 45 and 70 percentage respectively year on year.

According to agreements with EU and US to limit the growth of Chinese textile exports, China could export 21 clothing and textile categories to the United States with the growth rate of 10 to 15 percent in 2006, 12.5 to 16 percent in 2007 and 15 to 17 percent in 2008.

While Sino-EU agreement will allow China to export 10 categories of textile products at the growth rate between 8 to 12.5 percent annually from 2005 to 2007.

CNTIC also reported that China's exports of restricted textile products to the United States and the EU decreased 31.71 percent and 29.69 percent year on year in the first half of the year.

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