slowing of the growth of the exports of clothes and textile products
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February 24th, 2009
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China exported 185.1 for billions of dollars of textile products and clothes in 2008, the increase of 8.2% on one year, declared Saturday the general administration of the customs.
However, this growth rate was lower of 10.7 percentage points of to the one of the previous year.
In 2008, the exports recorded a reduction in February and in June, because of the weakness of demand on the bottom of financial crisis, before rebounding of 10.1% to reach 16.06 trillion of dollars in December.
According to the administration, this revival of the exports started during the second semester of 2008, thanks to a reduction of the taxes to the export, to the stability of the exchange rate of the Renminbi (RMB, other name of the yuan) and to the reduction of the production costs.
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