Based on a rough estimate, China's external dependence of textiles and garment is about 30-40 percent, from January to May this year, China's exports dropped by about 11 percent year-on-year, while domestic sales grew 15 percent, the growth of domestic sales made up for the decline in exports. Therefore chemical fiber, yarn production and industrial added value still remained growth.
In the first 5 months of this year, prices of chemical fiber, cotton and other textile raw materials fell 15-25 percent year-on-year, resulting in price decline of textiles, yarn, clothing and other products. Take textile exports to the United States as an example, cotton yarn fell 24 percent; cotton knitwear fell 15 percent; cotton woven garments fell 2 percent; chemical fiber knitted apparel fell 10 percent; fiber woven garments fell 7 percent.
In the first 5 months, China's textile and apparel exports declined about 11 percent year-on-year; the main reason for export decline was lower unit price.
In the first 4 months, year-on-year changes of China's textile and garment exports in statistical classification by regions show as follows:
U.S.: -2.3 percent; EU: -7.89 percent; Japan: 2.43 percent; South Korea: -38.1 percent; Hong Kong: -21.8 percent; other parts of Asia: -37.1 percent; Africa: -7.88 percent; Latin America: -20.86 percent.
