Shaoxing's Textile And Garment Industry Has Gradually Recovered.

Statistics show that in the first quarter of this year, Shaoxing exported 4 billion 120 million US dollars, an increase of 36.5% over the same period last year, and its export value ranked third in the whole province. The import value was 1 billion 450 million US dollars, a significant increase of 51.5% over the same period last year, and its import value ranks fourth in the whole province. Strong import growth has led to a sharp drop in trade surplus and a more balanced foreign trade development.

Shaoxing's major export markets rebounded in the first quarter, and all export markets showed a two digit growth. The recovery of emerging export markets was faster than traditional markets. Among them, exports to the European Union and the US traditional market increased by 36.1% and 16.3% respectively, and the growth rate of the emerging export markets such as ASEAN and Latin America increased by more than 40%. From the export product category, the export of Electromechanical, chemical and hi-tech products picked up faster, and the export growth rate exceeded 50%, higher than the average level of the whole city, of which the export value of high-tech products reached US $200 million, an increase of 86.6% over the same period last year, and the proportion of exports increased by 1.5 percentage points.

It is noteworthy that in March, the total value of Shaoxing's imports and exports was 1 billion 660 million US dollars, up by 8.5% over the same period last year. Among them, the export value of US $1 billion 110 million, a slight decrease of 1.8% over the same period last year. The head of the Municipal Foreign Trade and Economic Cooperation Bureau believed that the export volume of foreign trade declined slightly in March, which was mainly affected by the decline of textile exports. In March, the export value of textiles and clothing in the city was 580 million US dollars, down 20.6% from the same period last year. The export value of textile yarn fabrics and products was 440 million US dollars, down 19.2% compared with the same period last year. The export value of garments and accessories was 140 million US dollars, down 26.9% compared with the same period last year.

According to the analysis of customs officials in Shaoxing, such factors as rising costs, unstable external market environment and lagging effect of the Spring Festival are the main reasons for the shrinking of export of labour intensive products such as textiles and garments. At present, the consumption demand recovery in the international market is relatively stable. However, the international trade protectionism is prevailing, the pressure of RMB appreciation is increasing, the price of raw materials and the rising cost of labor are still uncertain. The recovery of Shaoxing's foreign trade can not be blindly optimistic.