Exports of knitted apparel set to rise

China’s
exports of knitted apparel will total I .33m tons in 2010, 41 per cent more than in 2001,
industry analysts Textile Intelligence said in a report on world markets for knitted textiles
and apparel. The fastest growth will be in exports to the US and the EU, which are predicted
to increase by 55 per cent and 79 per cent respectively over the period.
According to
the report, much of the export growth would be fuelled by offshore investment by foreign
firms, particularly from Japan and Taiwan, to take advantage of low labour costs. In
addition, quotas that restrict Chinese expoits are being phased out under World Trade
Organisation rules, and are due to be eliminated by the end of 2004.