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China's Textiles and Garments Export Growth Slowing
[2009-01-22 17:18:40]
The growth in China's exports of textiles and garments fell to 8.2 percent last year from 18.9 percent the year before, according to the Department of Foreign Trade of the Ministry of Commerce.
Total textiles and garments exports amounted to 185.17 billion U.S. dollars in 2008, according to the General Administration of Customs.
The Department of Foreign Trade said export growth would slow further this year, but it gave no estimates.
Exports would be hit by sagging demand in major markets, rising labour costs, and appreciation of the yuan, China's currency, which has gone up 27.4 percent against the U.S. dollar in the past three and half years.
The Department of Foreign Trade said China's imports of garments in the first 11 months of 2008 totaled 2.09 billion U.S. dollars in value, up 16.6 percent over the same period the previous year.
Source: Xinhua
Total textiles and garments exports amounted to 185.17 billion U.S. dollars in 2008, according to the General Administration of Customs.
The Department of Foreign Trade said export growth would slow further this year, but it gave no estimates.
Exports would be hit by sagging demand in major markets, rising labour costs, and appreciation of the yuan, China's currency, which has gone up 27.4 percent against the U.S. dollar in the past three and half years.
The Department of Foreign Trade said China's imports of garments in the first 11 months of 2008 totaled 2.09 billion U.S. dollars in value, up 16.6 percent over the same period the previous year.
Source: Xinhua
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