Textile And Clothing Exports Enter Hard Times

China's textile and garment industry has experienced a decline in exports to the United States, with the accelerated depreciation of the euro, the EU market this "last position" is now also facing the risk of failure.

"The China Textile Industry Association is paying close attention to the current appreciation of the RMB exchange rate against the euro."

Gao Yong, vice president of China Textile Association, said.

Gao Yong said that in the first half of this year, the growth rate of China's textile and clothing exports to the EU was 43%, which largely benefited from the broad market space of the European Union, and it was also closely related to the EU's abolition of China's textile quotas.

Mr Gao believes that if the RMB appreciation rate on the euro exchange rate continues, China's textile and clothing exports to the EU will be affected to a certain extent.

Relevant export enterprises should take measures to avoid exchange rate risk.