China's exports to EU and US dramatically fell in February
Source: CCPIT TEX Date: 2006-04-13
China's textile and clothing exports clearly slowed down in the first two months of the year, with annual growth falling below 20 percent, according to China's customs data. Apparel exports to the European Union and the United States sharply fell in February, partly due to US and EU limits. Shipments under quota categories are down 30 percent. Prices are significantly rising at the same time.
China's apparel exports to the United States and the European Union dropped in the first two months of the year, China's customs this week confirmed.
According to latest data, exports to the US were down 8.6 percent in US$ terms in the January-February period, from the same period last year, reflecting a 1 percent drop in January followed by a sharp 19 percent decline in February.
The February plunge is partly due to the Lunar Year holidays that fell in the second month of the year in 2006.
The overall decrease for the first two months is the result of US import quotas with orders from US buyers shifting to other origins in Asia.
Higher prices this year
After still rising in January, China's clothing exports to the European Union were down 11.80 percent in February, finally up 1.2 percent over the first two months of the year.
In addition, average unit prices of apparel shipped to the US and the European were up 15 percent and 28 percent in February, compared with January.
Although apparel exports to the US and the EU are now falling, total exports are still rising 15.50 percent at US$10.76 billion over the January-February period, from the same two months last year.
Shipments to a series of other destinations than the United States and the European Union were sharply up.
