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Nantong: Clothes Export Rebound

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The clothes export turned to rebound with the recovery of global economy since this year, but there are still some uncertainty about the future. Based on the data from Nantong Bureau of Inspection and Quarantine, Nantong export clothes 326.583 million pieces from Jan. to October, valude 1,724,226,100 USD, rising 22.50% and 22.64% respectively year over year.

From the figures, it showed that in April Nantong reached its peak during this period with exporting clothes 43.372 million pieces, valued 221,511,400 USD. Then it turned to weak till October, with exporting clothes 30.728 million pieces, valued 172.887.800 USD. While the unit price increased from 5.11 USD per piece to 5.63 USD.

There are two major reasons for this fluctuation. One is the appreciation of RMB and shortage of labor workers. This weakens the comparative advantage of Chinese textile industry. Foreign buyers turn to low cost countries for sourcing. Second, the soaring cotton price put a lot pressure on the manufacturers. Garment makers are reluctant to take orders, then the export reduces.

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