Affected by the factors of weak foreign demand and rising costs, in November alone, our textile and apparel exports amounted to 20.39 billion US dollars, increasing by 7.2% year-on-year, a dramatic decrease of 29 percentage points compared to the same period last year. The signs of the usual year-end upward trend in previous years were flat, and the export growth rate of textiles in December may continue to decline. Industry analysts stated that the textile export market is expected to be difficult to significantly recover in the short term.
Customs statistical data showed that the export growth rate of our textile and apparel in November was only 7.2%, the first time within the year to fall below double digits, gradually approaching the bottom, and lower than the overall export growth rate of foreign trade in November at 13.8%.
The signs of the usual year-end upward trend are mediocre, and the export growth rate of textiles in December may continue to decline, with little hope of turning around the situation. Industry analysts said that in terms of economic conditions, the consumer market will not be very optimistic at the beginning of next year, and the textile export market is expected to be difficult to significantly recover in the short term.
But for November alone, our textile and apparel exports amounted to 20.39 billion US dollars, increasing by 7.2% year-on-year, with a significant drop of 29 percentage points compared to the same period last year.
In November, textile exports amounted to 8.03 billion US dollars, and apparel exports amounted to 12.36 billion US dollars, increasing by 13.6% and 3.5% year-on-year respectively.
Despite the decline in the growth rate of textile exports in November being expected, the extent of the decline was still somewhat surprising. Since June this year, the growth rate of textile and apparel exports has been declining month by month, from initial minor fluctuations to the current sharp decline: the monthly growth rates of textile exports in the third quarter were 25%, 26.4%, and 14.8% respectively, with the first drop below 20% in September, followed by 10.4% in October, and then 7.2% in November.
As the end of 2011 approaches, the situation for textile and apparel exports remains severe.
Single-month export growth rate sees a "big plunge".
According to customs statistics, from January to November, our cumulative textile and apparel exports reached 226.15 billion US dollars, increasing by 21.2% year-on-year, a decrease of 3 percentage points compared to the same period last year. Among them, our textile exports amounted to 86.37 billion US dollars, increasing by 23.9%; apparel exports amounted to 139.78 billion US dollars, increasing by 19.6%.
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