Tex­tiles clos­ing ex­port gap with S. Korea: fed­er­a­tion

The China Post - - LOCAL -

Tai­wan’s textile in­dus­try is nar­row­ing the gap with South Korea this year thanks partly to its ex­port pen­e­tra­tion in ASEAN na­tions, ac­cord­ing to the Tai­wan Textile Fed­er­a­tion ( ).

The net ex­port per­for­mance of Tai­wan’s textile in­dus­try has his­tor­i­cally lagged be­hind South Korea’s, ac­cord­ing to the fed­er­a­tion’s records.

South Korea cre­ated ex­ports of US$15.9 bil­lion in 2014, US$4.3 bil­lion over the ex­port value of Tai­wanese textile firms.

But by the end of 2015, Tai­wan may have nar­rowed its gap with South Korea to less than US$3 bil­lion, the Tai­wan Textile Fed­er­a­tion re­ported on Aug. 5.

South Korea’s textile ex­ports are weath­er­ing this year’s global eco­nomic down­turn less well, par­tic­u­larly in the ASEAN na­tions, where the coun­try suf­fered a 6.4-per­cent drop in the first half of this year.

In the same pe­riod, Tai­wan’s ex­ports to ASEAN na­tions grew by 5.1 per­cent, ac­cord­ing to the fed­er­a­tion.

Data in­di­cates that Tai­wan and South Korea’s textile in­dus­tries have not fully re­cov­ered from China’s in­dus­trial restruc­tur­ing and the global eco­nomic down­turn, which has weak­ened tex­tiles de­mand in the Euro­pean Union.

Ex­ports were in re­ces­sion in the first half of the year, with South Korea’s per­for­mance de­clin­ing by 10 per­cent and Tai­wan’s by 3.6 per­cent.

De­spite an over­all de­cline, lo­cal textile com­pa­nies posted a 1.5-per­cent gain in fab­rics ex­ports, the fed­er­a­tion said.

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