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China's Textiles & Garment Trade Grows 7.2% in May

2014-07-29 08:36:41 China Textile Leader

China's import and export of textiles and garment in May grew 7.2% year-on-year to US$ 27.17 billion, in which, the export grew 8.7% to US$ 24.97 billion and import dropped by 7.4% to US$ 2.2 billion, with a trade surplus of US$ 22.77 billion, up 10.5% year-on-year.

In the first five months of this year, China's import and export of textiles and garment totaled US$ 117.63 billion, up 3.5% year-on-year, in which, the export amounted to US$ 106.86 billion, up 3.6%, import US$ 10.77 billion, up 2.8%, with a trade surplus of US$ 96.09 billion, up 3.7%.

The export varied on different major markets. The export to EU grew fast, with monthly export kept hitting new record. In May, the export to EU grew 26.4% to US$ 4.93 billion; the export to the United States grew 9.7% to US$ 3.8 billion, with value further expanded despite narrowed growth margin; the export to ASEAN rebounded by 11.1% to US$ 3.22 billion compared to the 1.3-percent growth in January-April; while the export to Japan dropped by 10% to US$ 1.68 billion.

In May, the export of textiles increased steadily by 7.7% to US$ 10.46 billion, while the import dropped by 11.8% to US$ 1.79 billion. Meanwhile, the export of garment grew 9.5% to US$ 14.51 billion, while the import maintained 18.6-percent growth. In May, the import of cotton further dropped by 45% to 192,000 tons.

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