The growth of China’s market share—in numbers
22/12/2009
Du Yuzhou, president of China National Textile and Apparel Council, has provided some figures to show how much China’s share of the global textile and apparel market has grown.
Speaking to specialist media in China, he said that in 1978 China’s textile and apparel exports accounted for 3.5% of the world total and had a value of $24.3 billion. By 2007, China’s share had grown to 30% of the world total and had a value of $175.6 billion.
Even so, internal market demand now accounts for 80% of the whole textile industry in China, he said. “In 2001, China’s gross domestic product per capita was $1000,” he explained. “Our target for 2008 was $3000. From experience, whenever GDP is over $1000 per capita, apparel consumption will be boosted. Whenever it is over $3000, the desire for fashion is high. Obviously, we have gone forward to this phase.”
Share this story:
