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China: Textile and footwear export shrink significantly in February


According to General Administration of Customs report on March 8, 2016, the total foreign trade value of February drop 15.7% to 1.43 trillion yuan compared with the same month of previous year, in terms of dollar exports decline 25.4% in growth rate, setting lowest level since June, 2009.

In this report significant drop in the intensive labor sectors are particularly mentioned, such as textile and apparel, footwear and so on.

The exports for 7 intensive labor sectors see 12.4% decline in the first two months of this year with value of 434.79 billion yuan that accounts 22.1% of total export value. For the same time the footwear dropped by 17.3% to the export value of 52.08 billion yuan, luggage and bags down 14.7% to 25.63 billion yuan.

The insiders said labor costs rising has weaken the competitive edge in these sectors, sluggish demand and new trade barriers and standards also bring huge challenge to the exports in intensive labor sectors.

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