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China's textile export declines in July as demand shrinks

(Xinhua)
Updated: 2009-08-12 16:02

China's textile and garment export dropped 12.35 percent to $16.38 billion  in July from the same period last year, according to the latest statistics on the official website of the General Administration of Customs.

The figure in July, however, was 21 percent up from $13.48 billion in June.

The textile and garment export declined 11.15 percent to $89.17 billion in the first seven months from the same period last year due to sluggish demand in China's major export destinations -- the United States, the European Union and Japan.

Special Coverage: China Biz & Economic Statistics Related readings:  July textile, garment exports down 12.3%  Tax rebate hike for textile, garment exports effective from Feb 1  China raises garment, textile export tax rebate rate  China announces textile stimulus plan

The decline in textile and garment export in July showed the enterprises were still struggling at the profits bottom, said Ma Xinzheng, vice editor-in-chief of Wetextiles.com, a leading textile website in China.

Growing domestic orders would support the recovery of China's textile sector despite slack overseas market demand, said Ma, adding that the prospect of China's textile sector was upbeat.