China's textile sector feels the pinch

26/01/2009

According to the Chinese Ministry of Commerce, the country’s textile and garment exports rose just 8.2% in 2008 compared with 18.9% in 2007. Total textile and garments export totalled $185.2 billion in 2008.

Growth is expected to slow further in 2009 as a result of the continuing global economic crisis. Although no estimates have yet been released, lower demand, higher labour costs and negative currency effects are likely to impact heavily on the sector.