In 2015, the export value of textiles was USD 11.53 billion in China, with a decline of 2.3% YOY which was mainly caused by increasing costs. In recent years, the growing costs of land, energy and labor dramatically increased the comprehensive costs of textile enterprises in China, which placed them in an inferior position in international competition. For example, the land cost of Chinese companies is 5-10 times as high as that of foreign competitors.
In China, six sub-industries of the textile industry include cotton, chemical fiber textile and printing & dyeing finishing industry, wool textile and dyeing finishing industry, linen textile, silk textile and finishing industry, finished textile product manufacturing as well as knitted and woven product industry.
As a traditional advantage industry, textile industry plays an important role in national economy. China is the world's largest textile garment producer and exporter. The output volume of China textile industry accounts for more than half of the global one. The processing capacity and export value of textile fiber account for a higher proportion in the world. The market international share exceeds one third of the world. In 2015, the production value of textile industry accounted for 7% of China's GDP. On one hand, as important export products in China, textile products play an important part in China's foreign trade. On the other hand, as a labor-intensive industry, the textile industry provides a lot of employment opportunities for China.
It is predicted that in the next 3-5 years, China textile industry in possess of perfect industry chain and large domestic market will continue to maintain a certain advantage in the world. However, in the longer run, the costs of China textile industry rise so fast that the production capacity of the textile industry will continue to transfer overseas, which will undermine the overall advantages of China textile industry chain. In addition, the position of China's textile industry in the world will face more challenges.
Contact: Violet Liu
Company: Wuhan GeLiYuan Textile Co., LTD
Add: Building 7 Cube City 107 National Road Dongxihu Wuhan Hubei PR.China