According to the statistics of Guangzhou Customs, the export of garments and accessories in Guangdong is 2.48 billion US dollars in May 2008, 30.6% down over the same period of last year. From January and May, the accumulated export is 8.62 billion US dollars, 21.8% dropped. Except the increase of export to EU, all the export to other markets declines dramatically, especially in US, the statistics up to May 21 released by US Customs reveal that the average usage rate of the textile export quota for 21 kinds of popular textiles and garments exported to USA didn’t reach 20%.
As we all know, there are two provinces mostly engage in texile industry, one is Guangdong, and another is Zhejiang province. When it came to the currency appreciation and increasing export tax rebates, those two big city were receive more stress than other province in china. They have to focus on this problem in order to survive.
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