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China's textiles and garments export growth slowing

(Xinhua)
Updated: 2009-01-22 16:39

The growth in China's exports of textiles and garments fell to 8.2 percent last year from 18.9 percent the year before, according to the Ministry of Commerce.

Total textiles and garments exports amounted to $185.17 billion in 2008, according to the General Administration of Customs.

The ministry said export growth would slow further this year, but it gave no estimates.

Exports would be hit by sagging demand in major markets, rising labour costs, and appreciation of the yuan, China's currency, which has gone up 27.4 percent against the US dollar in the past three and half years.

The ministry said China's imports of garments in the first 11 months of 2008 totaled $2.09 billion in value, up 16.6 percent over the same period the previous year.