Source: Yiwu sourcing agent Author: Gary Date: 2008-07-05
Due to the factors like the subprime mortgage crisis, negative business growth occurred in Yiwu's export to the United States from January to March.
The phenomenon luckily turned back in April. The first five months of this year saw a total of 9578 million USD of export volume to U.S.,up 5.14% from the same period of last year. From this April, Yiwu's export to U.S gradually went up.
EU becomes Yiwu's largest export market From January to May this year, Yiwu's total import and export volume reached 750 million USD,increasing by 14.25% from the same period of last year. In the figure, 680 million was the total export volume, rising by 12 .37%, which means a drop of 14 percent in the growth rate; 70 million was the total import volume, realizing a year-on-year growth rate of 36.38%. Import growth rate was higher than export growth rate in the first five months.
In the import trade, the processing trade realized 12.94 million USD of business volume, a rise of 34.58%. The export information of the first five months also indicates that EU has become the largest export market of the city. In the first five months, Yiwu's export to EU rose to 140 million USD, a rise of 23.87%. The growth rates of export toward Spain, Italy and Germany reached 73.82%, 43.31% and 40.28% respectively.
Effects of structural adjustment in the textile industry appear According to sources, textile products and garments take the
largest proportion in the current Yiwu export trade, which accounted for 54% of Yiwu's total export volume last year. The
export information of textile and garments in the first five months shows that the great efforts the city's textile enterprises made in the industrial restructuring, quality improvement and added-value promotion have achieved notable results . Some enterprises have already shifted their export destination from the Middle East to the developed countries in Europe
and America . According to the statistics,in the first five months, the export value of men's cotton shirts reached 28.76 million USD, an increase of 69.63%, while that of polyester shirts decreased by 16.01%, compared with the same period of last year.
The big export share has moved from the polyester shirts to the cotton shirts, which is another signal indicating the quality improvement of the textile products made by Yiwu enterprises.
Since the beginning of this year, some Yiwu textile enterprises have also been developing highend markets. For example, Berkam Garments Co .,Ltd has already shifted their focus of export to the European market, and Jinxiu Garments Company is
expanding the Italian market. In the meantime, over 30 Yiwu enterprises are making preparations for the participation in Las Vegas Garment Exhibition to be held in August in U.S., which is perceived as an approach to the expansion of market in the developed countries. Besides, the product prices of the first five months indicate that the export price of Yiwu textile industry has begun to rise. For instance, the export price of each cotton shirt has risen from 2.78 USD to 3.21 SD, increasing by 15.5% on the average.
Prev:Huacheng the transit of small high-level Open able people sought after Yiwu Next:African handicraft boutique:a channel of bilateral trade