CHINA: China`s apparel imports climb 62% in first four months of 2011.
Apparel imports into China (the world’s largest apparel exporter) are growing at a sharp rate. The mainstay of imports is luxury brands as a result of an increase in purchasing power, but the growth in imports from countries where the labor cost is lower than China, such as Vietnam, is also remarkable.
Egytex News Desk
Source: www.yarnsandfibers.com
According to customs-based statistics, January-April 2011 apparel imports increased by 62% over the year before to US$1,057.99 million.
The largest supplier was Italy at US$197.77 million (up 66%). Meanwhile, imports from ASEAN grew nearly twofold to US$129.86 million, of which Vietnam rose about 2.7 fold to US$36.58 million. The FTA that came into effect last year is also having an impact on imports.
Source: www.yarnsandfibers.com
From the Egytex news archive, first published on 8 June 2011. Figures and names are as reported at the time.
