China’s textile industry as a whole drop in the economy

With the international financial crisis has further deepened, China’s textile industry as a whole drop in the economy, the textile industry in Nantong is also in trouble. Inspection and Quarantine, according to Nantong to statistics, in 2008, Nantong synthetic filament region of 4641.36 tons of imports, the value of 16,325,200 U.S. dollars, with the same period in 2007 decreased by 22.77% and 16.26%.

Statistics show that in April 2008, Nantong 502.24 tons of imports of synthetic filament, the value of 1,525,400 U.S. dollars, followed by fluctuations in all the way down, in December of synthetic filament and the value of imports fell to 179.94 tons, respectively, and 600,800 U.S. dollars, more than in November were down 8.45 percent and 12.76 percent for a single month in 2008 the import volume and value of the minimum. In the importing enterprises, foreign-invested enterprises accounted for more than 98% of imports.

It is understood that nantong imported products are mainly for polyester fiber, nylon and aramid, mainly used for processing high-end clothing and equipment fabrics, automotive interior with a cloth and fabrics, such as fabric, and the majority of products are for export. Watch from the source of imports, mainly from Japan, Thailand, Korea, Indonesia, the United States, the Netherlands and other countries and China Taiwan Province.

Qualcomm, according to industry analysis, imports of synthetic filament Nantong region the main reason for decline in the international financial crisis intensified, the global automobile industry giant was badly hit, declining demand for motor vehicles with a cloth; Second, RMB appreciation and rising domestic production costs, China’s textile industry a comparative advantage in processing trade weakened, reduced orders for textiles; three are European and American buyers of foreign payments reduced the risk of domestic enterprises export surge has led to the textile, clothing exports reduced. Interaction of these factors make it upstream to reduce the demand for textile materials.