(yarnsandfibers) -- China's
textile industry, which contributes significantly to the country's exports,
posted slower growth in the first quarter of 2012 due to weak external demand,
according to National Development and Reform Commission (NDRC) data released on
Industrial output by major textile enterprises rose 14.7 percent year-on-year
to reach 1.24 trillion yuan (USD197 billion) in the first three months of this
year, marking a slowdown of 16.92 percentage points from a year ago, the new
The combined profits of major textile companies dipped 2.21 percent
year-on-year to 33.42 billion yuan between January and February, compared with
an increase of 61 percent in the same period of last year.
In the first quarter, fixed-asset investment in the textile industry totaled
117.81 billion yuan, up 17 percent over a year ago. The growth rate was 21.51
percentage points lower than last year.
The NDRC data showed China exported USD20.44 billion worth of textiles and
USD29.57 billion worth of garments from January to March, at a year-on-year
growth rate of 1.4 percent and 3.9 percent, respectively.