The Impact Of The Depreciation Of The Euro On The Pearl River Delta Textile Enterprises Remains To Be Seen

In the first half of this year, the top three markets for textile and garment exports in Guangdong were Hongkong, the European Union and the United States.

This year, the EU lifted the quotas of 10 categories of imported textiles from China. In the first half of this year, Guangdong's exports to the EU showed an upward trend in exports of textiles and clothing, with a total export of US $2 billion 980 million, an increase of 68.4%.

On the 2 day, the central parity of RMB against the euro broke through 1 to 10 for the first time this year, 1 yuan to RMB 9.9667 yuan.

The industry believes that since the EU has become China's largest trading partner, the appreciation of the renminbi will definitely affect exports in the second half of the year. In the coming period, China's textile and garment exports to the EU are facing the risk of a slowdown in growth.

Pearl River Delta textile enterprises to be affected

From the end of the reform to the end of 6 this year, the RMB has depreciated 7.54% against the euro.

Since the two quarter of this year, the appreciation rate of RMB has accelerated to the euro exchange rate, rising from the 11 pass to the 10 pass in half a year.

Up to now, the RMB has appreciated by 0.24% of the RMB to the euro since the reform.

The responsible person of the Guangdong provincial foreign trade and Economic Cooperation Bureau said that the clothing products in Hongkong were mainly exported to the United States and China's Hongkong region. This year, due to the subprime mortgage crisis and weak economic growth, the other main markets except the European Union all showed a downward trend.

It is reported that in the first half of this year, the top three markets for textile and garment exports in Guangdong were Hongkong, the European Union and the United States.

In the first half of this year, Guangdong's export textile and garment exports to the EU showed an inverse trend, with a total export of US $2 billion 980 million, an increase of 68.4%, due to the EU's quota restrictions on imports of 10 categories of textiles imported from China this year.

The official said: "relatively speaking, the Yangtze River Delta region has developed the EU market earlier. If the RMB continues to appreciate against the euro, it will have a greater impact on the Yangtze River Delta.

But this year, the EU has become the last straw for textile and clothing exports in our province. The appreciation of the renminbi against the euro is not a big blow to the Pearl River Delta region.

But at the same time, the person in charge thinks that the extent to which the effect will be affected requires constant observation of the exchange rate.

Export growth will decline further

Gao Yong, vice president of China Textile Industry Association, said that the growth rate of textile and clothing exports to the EU in the first half of this year was 43%. He believes that this is largely due to the broad market of the European Union, and is closely related to the EU's abolition of China's textile quotas.

Since the first half of this year, China's textiles and clothing have lost more orders to the three traditional markets of the United States, China, Hongkong and Japan.

In the four traditional export markets, only the EU benefited from quota cancellation and the relative stability of its economy, and the number increased by 19.96%.

Guo Jin Securities researcher Zhang Bin analysis, according to the EU's economic data, the EU economy has signs of decline, indicating that the EU's demand for clothing may also be reduced, coupled with the appreciation of the euro, China's textile and garment exports to the EU growth rate may fall.

According to the monthly export data this year, the growth rate of exports to the EU has begun to decline in the past 3 months.

"The second half of the year will not significantly improve the external market environment that affects the development of the textile industry. On the contrary, the export environment of the textile and garment industry may be more severe than the first half of the year, and the export growth rate will decline further," said Wang Qian, editor in chief of the first textile network. "In the second half of the year, the external market environment that will affect the development of the textile industry will not be significantly improved."

(Du Juan)