China’s textile exports fell for the first time in six years in 2015, dragged down by the sluggish economies of export destinations, rising labor costs in China as well as an increase in overseas investment. According to the Nikkei Asian Review, China’s textile exports fell 5% to $286.8 billion in 2015. Textile exports had been growing for years, except in 2009, in the wake of the global financial crisis. In the first two months of this year, the country’s textile exports dropped 16% on the year. The decline is partly due to a slowdown in Europe and Southeast Asia’s sluggish growth.
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