Clothing transaction plunges at China Export Commodities Fair

The garment transaction at the 98th China Export Commodities Fair declined by about 10 percent compared with the previous fair, and exports to the United States dropped by 44 percent.

The information was released by Xu Bing, spokesperson of the 98th China Export Commodities Fair. The fair ended on Sunday after having lasted for half a month in Guangzhou, capital of south China's Guangdong Province.

The garment trade value at the fair stood at 2.46 billion US dollars, making up 8.4 percent of the total trade value. It was 10.1 percent less than the 97th session and 13.8 percent less thanthe 96th one.

The transaction of clothing with the United States totaled 310 million US dollars at the fair, about 44 percent less than the figure at the previous session. And the clothing export to the European countries totaled 1.08 billion US dollars, down 6.9 percent from the previous fair.

Due to the pending talks on Sino-US textile trade disputes, many manufacturers and purchasers were cautious in signing contracts of orders at the fair, according to the organizer.

But, the trade on textile raw materials increased slightly since they were not affected by the quotas, according to the organizer.

The Chinese Export Commodities Fair, a biannual event launched in 1957, is dubbed the bellwether of China's foreign trade.

Source: Xinhua