China Expects Textile Export Growth of 15%

China´s textile export this year will grow for more than 15 percent realizing a strong growth in spite of quotas.

China´s export of textile this year will grow for more than 15 percent realizing the strong growth in spite of quotas which were imposed to that country by trading partners from the west,  the Xinhua press agency reports as according to evaluation of government planning agency.

Nevertheless, beside the strengthening of national currency juan and the growth of production costs, the expansion will be weaker of that recorded last year, as according to estimates of the Chinese committee for the national development and reforms. Furthermore, it is expecting the profit growth in that industrial sector in the amount also greater than 15 percent this year.

Chinese companies have exported in 2006 clothes in the value of 95.2 billion dollars and 48.8 billion dollars worth of textile products, which represents an annual increase of 28.9 percent from 18.7 percent, despite disagreements with their particular significant clients.

Export from the most populous country of the world recorded strong growth since the beginning of 2005 when the global system of textile quotas within World Trade Organization (WTO) was abolished. Owing to its low employment costs and logistic advantages China managed to conquer market shares.