Guangdong sees textiles, apparel exports rebound in Mar

Apr. 15, 2009 (China Knowledge) - China's southern coastal Guangdong Province export value of textiles and apparel products grow 6.3% year on year to US$2.36 billion last month, according to statistics from Huangpu Customs, the official Xinhua News reported.

However, in the first quarter (Q1) of this year, Guangdong exported US$6.24 billion worth of textile and apparel products, representing a 10% drop year on year.

Foreign funded enterprises and state-owned enterprises exported US$2.62 billion and US$ 1.17 billion worth of textile and apparel products in Q1 2009, 16.6% and 13.8% less than a year earlier, respectively. Private enterprises exported US$2.25 billion worth of the above products, 2.4% more year on year.

Guangdong exported US$1.92 billion and US$1.12 billion worth of textile and apparel products to Hong Kong and the E.U., down 17.5% and 18.6% year on year, respectively. While the province exports textile and apparel products worth US$840 million to the U.S., up 8.9% from a year earlier. Exports to these three countries accounted for 62.1% of the total Q1 export volume.

An industry insider said that the global financial crisis will not disastrously impact China's textile manufacturing industry if the economic deterioration can be controlled, especially since the excessive consumption pattern in the U.S. has not completely changed.