The Textile Information Network (http://www.fangzhixinxi.com/) has brought good news, allowing China's textile enterprises to finally breathe a sigh of relief. Despite the continued struggles of the U.S. economy, with rising unemployment rates and sluggish consumer spending, participants in China’s textile and apparel industry have still come to New York to host the 10th "China Textiles & Apparel Trade Exhibition (New York)." There are signs that exports of Chinese textile and apparel products to the U.S. market are beginning to show signs of recovery.
Xu Yingxin, Vice President of the Textile Industry Division of the China Council for the Promotion of International Trade, said in an interview with local Chinese media on the 15th, “Although the U.S. economy is not performing well, it remains one of the largest importers of China's textile and apparel products. The reason we insist on holding this exhibition during these 'cold times' is to help Chinese companies find opportunities amidst the crisis.”
According to information obtained by the reporter, although in the first four months of this year, the cumulative export volume of textiles and clothing from China decreased by 10% compared to the same period last year, the year-on-year decline in textile exports narrowed in March, and clothing exports showed positive growth. In April, textile and clothing exports increased by 2.7% month-over-month. Relevant data indicates that the worst period for China's textile and apparel exports to the U.S. has passed, with signs of market recovery and warming.
Preliminary statistics released recently by the U.S. Office of Textiles and Apparel show that in the first three months of this year, U.S. imports of textiles and clothing continued to decline, with double-digit decreases in most categories. However, imports from China of knitted fabrics, cotton pants, cotton knitted shirts, synthetic fiber knitted shirts, and underwear saw increases of up to more than twice the previous year.
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