European Debt Crisis Affects Textile Exports In The Three Quarter Or Negative Growth

Recently, the euro exchange rate continued to decline, the market is worried that the European debt crisis will evolve into the euro exchange rate crisis, and then turn into a new round of global economic crisis.

The industry expects that from the second quarter or the third quarter of this year, China's exports to Europe will slow down or even negative again, calling on relevant enterprises and departments to introduce relevant policies as early as possible.

"From the Canton Fair, we can see that there are signs of weakness in EU procurement."

First textile network deputy editor Ma Xinzheng said.

Huo Jianguo, President of the Ministry of Commerce, also pointed out that China's export growth to Europe may drop by 6% to 7% in 5, June and even the third quarter.

"Take the domestic textile leading enterprise Lu Tai A as an example, because of the decline in export orders, the revenue growth of enterprises last year was only 2.9%."

Wang Rong, a joint securities analyst, told the daily economic news that the company's annual growth before the financial crisis was 20% to 30%.

At the same time, the exchange rate risk caused by the European debt crisis is also placed in front of the enterprises.

However, some people in the industry say optimistically that the third quarter of this year will remain the same level as the first two quarters due to the warmer market demand.

Data show that, with the slow recovery of the global economy, the demand for major export countries and regions of China's apparel industry in Europe, the United States, Japan and Korea also rebounded significantly in the first quarter of this year.

"China's textile and apparel exports to Europe are most important in Germany, France and other countries. The economy of Greece and other countries with debt crisis is very small in China's textile and clothing exports. Therefore, in the past few months, China's textile and apparel exports to the EU are relatively normal, but the future is not necessarily optimistic."

Ma Xinzheng said.

Ma Xinzheng pointed out that the downward trend of exports to the EU market will mean more difficult days for textile manufacturing, and the adjustment cycle will be further extended.

Relevant enterprises and departments should introduce relevant policies as early as possible to deal with a more severe export situation and ensure the realization of the growth target.