Guangdong's Clothing Exports To The Middle East Cut By Over 4

Guangdong's textile and clothing exports grew slightly overall, but the emerging markets such as the Middle East and Africa showed a downward trend. Their exports to the Middle East and Africa in March alone fell by more than 4.

Statistics released by Guangzhou customs 18 showed that in 2010 1-3, Guangdong exported 7 billion 150 million dollars of textile and clothing, an increase of 14.6% over the same period last year. Among them, the export garments and accessories were 5 billion 100 million US dollars, an increase of 11.6%, and the export of textile yarn, fabrics and products 2 billion 50 million US dollars, an increase of 22.8%. Among them, exports in March were $2 billion 140 million in the same month, down 9.6% from the same period last year.

In March, Guangdong exported $2 billion 120 million, $1 billion 430 million, $1 billion 110 million, and $570 million to Hongkong, the European Union, the United States and ASEAN, respectively, by 10.5%, 28%, 31.5% and 18.7% respectively. The total exports of the above 4 markets account for 73.1% of the total value of Guangdong's textile and garment exports over the same period. It is noteworthy that in March alone, Hongkong's exports to the EU and ASEAN declined, except for the 9.3% increase in the market, while the recovery in the US market increased by only 4%.

Emerging markets such as the Middle East and Africa are on a downward trend. In the 1-3 month, Guangdong exported 420 million and 230 million US dollars to the Middle East and Africa, down 8.1% and 3.4% respectively. In March alone, exports to the Middle East and Africa fell by more than 4, down by 56.1% and 46.2% respectively.

It is noteworthy that the trend of RMB appreciation has been pulled up, or the profits of enterprises have been squeezed. Recently, with the frequent contacts between China and the United States on the issue of RMB exchange rate, the topic of RMB appreciation has become a hot topic. As China's textile and garment enterprises are mainly SMEs, the sensitivity to RMB appreciation is very strong. When profit margins are close to breakeven point, if the RMB appreciation restarts or even accelerates this year, most enterprises will be "without profit".

In fact, the RMB is slowly rising in March, though it has been repeated in the middle, but it has risen from 6.8268 in early March to 6.8259 now.

Customs reminded that at the same time, the pressure of rising cost of raw materials is still increasing, and the protectionism of international trade is surging.