Lisbon, Portugal, 09 Dec – The value of Chinese textile imports to the European Union (EU) increased 45 percent year-on-year in the first nine months of 2005, official statistics published Friday said.
The figures from the European Commission show that imports of Chinese textiles to the EU increased by 40 percent in the same period, while total textile imports – from all over the world including China – increased by just 4.9 percent.
This disparity between the growth rate of Chinese textiles imports and global textile imports contributed to an increase of China’s market share in the European textile market to close to 30 percent.
In 2004, at a time when textile trade had not yet been liberalized, China’s market share stood at around 21 percent.
This increased market share led to reduced sales of countries that have traditionally supplied the EU with textiles, such as those in North Africa, Asian, the Caribbean and the Pacific.
The rapid increase of imports of Chinese textiles into the EU led to the Union activating import quotas set in the liberalization agreement the market signed with China.
The import quota system for 10 categories of import, which will run until 2007, led to a slight slowdown of imports in September according to figures published this week by the European Commission.
This slowdown is expected to be more significant in the next few months as the import limit for seven of the ten categories has already been surpassed this year. (macauhub)