The central parity rate of the Chinese currency renminbi, or the yuan, weakened 191 basis points to 6.6860 against the U.S. dollar Monday, according to the China Foreign Exchange Trading System. The decline came after the currency witnessed sharp fluctuations in the previous week. On July 19, the central parity rate of the yuan weakened to 6.6971 against the U.S. dollar, the weakest level in five and a half years, before the currency strengthened for three days in a row. Chinese central

Exports of textile and clothing dropped by more than seven per cent to $12.46 billion in the outgoing fiscal year (2015-16) from $13.45bn a year ago, the Pakistan Bureau of Statistics said on Friday. These exports stood at $987.16 million in June, a fall of 8pc compared to $1.08bn in the same month of the last year. The textile group, which has 60pc share in Pakistan’s overall exports, has been witnessing a decline in the last couple of years. The readymade garments sector was the only bri

In June 2016, Brazilian cotton imports totaled 655,000 tons, a massive rise of 177 per cent over its previous month, where it stood at 236,000 tons and also much higher than 158,000 tons in June 2015. As per data from the Foreign Trade Secretariat (SECEX), Brazilian cotton exports however dropped in June for the sixth consecutive month and were down 1.8 per cent from May 2016. But, in the first six months of 2016, global sales were still 42.9 per cent higher compared to the same period of

The US looking towards doubling its export of cotton to Bangladesh over the next five years, which we feel is possible as Bangladesh is the number one importer of cotton now, said CCI President Keith T Lucas Lucas. Last December, Bangladesh became the largest cotton importer worldwide with China stopping cotton imports due to its previous stockpiling.Moreover, with the country's aim to hit $50 billion in garment exports by 2021 is also an important factor for higher cotton consumption. They a

The textile manufacturing market in Serbia is expected to grow at a modest rate, posting a CAGR of 3% during 2015-2020, a recent study on the sector in the former Yugoslav state reported. Backed by government policies and favourable trade agreements with the European Union (EU) apart from its strategic location at the crossroads of Europe and Asia, Serbia's textile sector is predicted to accelerate further with improvement in the business environment and inflow of FDI, noted the study by Tech

KARACHI: Cotton trading was brisk on the cotton market on Tuesday as spinners and some exporters remained in the forefront of buying spree. The undertone remained steady and outlook optimistic. The high demand in front of slow arrivals of phutti (seed cotton) continued to push lint prices higher with each passing day. Trading was highlighted by active participation from a world leading cotton dealer, Louis Dreyfus. According to market sources, the dealer actively participated in Tuesday’s

Pakistan Readymade Garment Manufacturers and Exporters Association (Prgmea) has urged government to take notice of a 25 per cent surge in yarn prices “due to cartelisation of local manufacturers”. In a statement issued on Monday, Prgmea Chief Coordinator Ijaz Khokhar said a rise in yarn prices to Rs11,500 from Rs9,950 during the last one-and-a-half months was adversely affecting the apparel sector. He blamed the price hike on a cartel of local manufacturers who, he said, were taking advant

China's ministry of industry and information technology has recently released announcement No. 17 of 2016, which published updates to a number of textile and apparel industry standards. The standards include some product standards for apparel and textile accessories such as FZ/T 81001-2016 for pajamas, FZ/T 81015-2016 for wedding gown and full dress, FZ/T 73002-2016 for knitted caps, FZ/T 81012-2016 for woven scarf and shawl, etc. The updates include some textile test method standards such

Vietnam became the world’s third largest footwear manufacturer in 2014, commanding a 3.7% market share, trailing China and India in first and second place, respectively, according to the World Footwear Yearbook. The nation’s footwear exports subsequently jumped 15% year-on-year in 2015, crossing the US$12 billion benchmark, according to statistics of the Vietnam Leather, Footwear and Handbag Association (Lefaso). Roughly 70% of the nation’s footwear exports are sports shoes, said Phan Thi

The deadly terrorist attack in Dhaka would not deter global top clothing retailers giants including Target Corporation, JC Penney Company Inc, VF Corporation, Wal-Mart Stores and the Children’s Place from sourcing clothing products from Bangladesh. Alliance for Bangladesh Worker Safety – a platform for North American global retailer – working on safety improvement in Bangladesh in RMG industry came up with the remark at a media briefing yesterday. The briefing aimed at providing quarterly