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China's textile exports to US and EU rally
(Xinhua)
Updated: 2006-05-13 09:25
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China's textile exports to the United States and the European Union in March reached 1.32 billion US dollars and 1.44 billion US dollars, up 20 percent and 33.2 percent from the same period last year, according to the General Administration of Customs (GAC).
Figures were pushed up by an increase in the amount of textiles exported which did not come under the quota restrictions imposed by the U.S. and the EU. Predictably exports of textile goods that were affected by the restrictions fell by a large margin.
China's exports of textile and clothes in March came to 10.54 billion US dollars, a 33.9 percent increase.
In February, the country's textile exports to the US and the EU fell 13.3 percent and 9.2 percent respectively, from the previous year.
The country's import and export of textiles and clothes in March accounted for 12.1 billion US dollars, up 29.4 percent over the same month last year and with a surplus of 8.97 billion US dollars, up 40.4 percent.
Export of textile goods to Korea, Russia and Canada continued to rise to become the main driving force of the country's exports.
Hong Kong in March surpassed the US to be the Chinese mainland's third largest export destination with the EU first and Japan second.