CHINA: China Textile Exports to hit New Record this year.

In a report, the CCCT said textile exports this year are expected to increase 20 percent to $186 billion.

Prior to the financial crisis, China's textiles export experienced continuous growth and jumped to a record high of $185.2 billion in 2008. But, affected by the global economic recession, textile exports fell 9.8 percent to $167 billion last year.

China exported $109.67 billion of textile goods and garments in the first seven months this year, up 23 percent over the same period last year.

However, CCCT pointed out that textiles export growth would slow in the latter half of this year.

Garment exports will be weak because China's garment manufacturers are suffering from tighter margins due to yuan's appreciation, as well as increased raw material and labour costs.

By the end of July, cotton and chemical fiber prices had risen 50 percent compared with a year earlier, according to CCCT.

China’s garment exports reached $66.83 billion in the first seven months, up 17.4 percent from the same period last year, while that of textiles goods grew 32.8 percent to $42.84 billion.

At present, China's garment products are mainly exported to Europe, the United States and Japan, which account for 70 percent of China's garment exports.

Textiles including raw materials and semi-finished products from China are mostly exported to Southeast Asian countries like Vietnam, Cambodia and Bangladesh.