“The textile export growth rate was higher than the level for the whole of last year but for garments, it was nine percentage points lower than a year earlierIn May, the garment exports increased by a record-low rate of 1.08 per cent to $8.59 billion. The slowdown was caused by a weak demand abroad coupled with the appreciation of Chinese currency and higher production cost. The weak demand had dealt a blow to the cotton sector in China, which imported 2,40,200 tonnes of cotton in May, a decline of 23,200 tonnes or 8.81 per cent, from the earlier months.Source: Yarnsandfibres.com.
Date:6/17/2008
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