The textile industry in China posted a 23.59 percent year-on-year increase in exports to $206.53 billion in 2010, with exports topping the $200 billion mark on a recovery in demand, reports China Business News.
Of the total, exports of textile and fabric increased by 28.44 percent to $77.05 billion while exports of
apparel and accessories rose 20.88 percent to $129.48 billion.
According to a vice president of a Ningbo-based textile company in Zhejiang province, Zhou Xiaonan, many textile exporters had already increased export prices by between 30 percent and 40 percent by the end of 2010 due to rising costs of production. However, textile exporters are finding it more difficult to raise prices further due to the reluctance of foreign buyers to pay higher prices.
The report added that textile producers are generally unwilling to accept huge and long-term orders due to the volatility in the prices of raw materials and fluctuations in the exchange rate. With many of the textile processing companies in Zhejiang and Jiangsu provinces shutting down from November due to vacation, this may have an impact on textile exports in the first quarter of 2011.
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