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In the first six months of 2014, combined profits at textile manufacturing companies with annual revenues of more than RMB 20 mn ($3.25 mn) grew 8.8% as the RMB value of sales grew 10%, said the country’s National; Statistics Agency on July 17. Clothing makers’ profits grew 13.9% on sales up 9.8%, and both groups increased sales and profit slightly faster in August.
Chinese apparel exports to EU “growing faster than domestic sales” – but falling to non-Western destinations
The dollar value of Chinese apparel exports to the EU grew 21.4% over 2013 in the first six months of 2014, while Chinese retail sales of apparel grew just 10% in RMB terms. Its apparel exports to the US grew 7.7%, exports to Japan fell 11.6% and its apparel exports to the rest of the world fell 0.2%.
The EU imported 17% more clothes from outside the EU in June than in June 2013 – meaning rich-country garment imports grew 5.7% year on year in the second quarter. Rich country imports in June grew 10.6%, as surges in the US and EU outweighed Q2 falls in Japanese demand.
Amid a raft of official government-inspired garment industry “visions” on this website, there’s something very weird about a claim in early August that Indonesia’s government “expects” its garment and textile exports to grow six fold between now and 2030.
Lenzing have just completed, at a cost of €150 mn ($200 mn) a new Tencel factory that increases the group’s Tencel capacity 42%. At an apparent cost of $1.4 MILLION per job saved.
The challenge of China’s apparel productivity miracle seems invisible to the inventors of India’s Vision
China’s extraordinary miracle in driving up its garment garment workers’ wages, while improving their competitiveness on the world market, appears to be one of the great achievements of industrialisation. But India’s policy makers seem completely unaware of its implications for their long-term plans.