China has maintained strong economic growth, which is projected to reach 6.8 percent this year, supported by rising household incomes and improving external demand, the World Bank said in its latest economic update report released on Tuesday. In April and October, the bank's forecast of China's GDP growth this year was 6.5 percent and 6.7 percent, respectively. The country's GDP growth averaged at 6.9 percent in the first three quarters, stronger than market expectations and higher than it

As the government is all set to withdraw sales tax and customs duty on import of cotton on the demand of spinning industry, setting aside the interest of growers and ginners, the Pakistan Readymade Garments Manufacturers & Exporters Association has appealed the authorities to also relax duties on yarn import to encourage value addition, reduce cost of doing business and bridge the gap between production and consumption. PRGMEA Chief Coordinator, Ijaz Khokhar asked the Textile Division to

After the US withdrew from the talks on Trans-Pacific Partnership (TPP), Vietnam’s garment and textile export met with difficulties in the first two quarters this year. However the industry has posted the record high trade surplus value taking the lead in export items. Chairman of Vietnam Textile and Apparel Association (Vitas) Vu Duc Giang yesterday said that garment and textile export this year posted the highest value in all export items of Vietnam, reaching US$15.51 billion increasing 7.1

China's economy has held steady in the first 11 months of 2017, on track to reach this year's growth target and creating room for policy makers to step up efforts on risk control, poverty relief and pollution next year. Data released Thursday showed fixed-asset investment (FAI) climbed 7.2 percent for January-November period, down from 7.3 percent in the first 10 months. The pace of growth has declined for eight consecutive months. Investment in property development rose 7.5 percent from a

The American Sheep Industry Association cooperates with the U.S. Department of Agriculture’s Foreign Agricultural Service program. The FAS program’s has been vital in the expansion of American wool exports to other countries. With this matching fund program, ASI is allocated approximately $1 million each year and it has been key to bringing foreign wool companies to the United States, as well, as other promotional programs to export American wool, said ASI Wool Marketing Director Rita Samuelson.

Garment exporters are progressively turning their focus on ladies undergarment as they look to boost their receipts by shipping more value-added items. Even five years ago, lingerie exports could not rake in $100 million but now the receipts easily surpass $700 million, according to industry insiders. Local manufacturers are investing more and more in this segment to grab a share of the $40 billion global market, they said. Nearly 15 garment factories started production of the value-add

Coats, the world’s leading industrial thread manufacturer, has announced that it has acquired Patrick Yarn Mill, a manufacturer of high-performance engineered yarns based in North Carolina, US. Patrick Yarn Mill specialises in cut-resistant and flame retardant yarns. Headquartered in UK, Coats is a major player in the Americas textile crafts market. Patrick Yarn Mill also produces yarns from recycled fibres marketed under its earthspun trademarks and with its large solar installation promote

India has imported $87.4 million worth of readymade garments from Bangladesh during July-November 2017, registering a sharp rise of 56 per cent compared to $55.92 million during the same period last year, according to the data released by Export Promotion Bureau of Bangladesh. Indian apparel manufacturers will face stiff competition from Bangladesh. Category-wise, Bangladesh’s knitted apparel exports to India stood at $30.1 million during the five-month period beginning July 1, 2017, indicati

The US Department of Agriculture’s Beijing bureau pegged at 1.30m tonnes (5.97m bales) China’s cotton imports in 2017-18, on an August-to-July basis. A rise of more than 200,000 tonnes year on year – far bigger than the 58,000-tonne increase, to 1.15m tonnes (5.30m bales), that the USDA has officially penciled in. The bureau’s estimate comes amid persistent market talk that China may be poised for accelerating buy-ins, with some rumours of a potential increase to the import quota of 894,000 t

The world economy is expected to remain stable in 2018 and 2019 after an impressive growth rate of 3 percent in 2017, said a UN world economic prospects report launched on Monday at UN Headquarters in New York. The growth in 2017 is the strongest performance of the world economy since 2011. Global growth is expected to remain steady at 3 percent in 2018 and 2019, said the UN World Economic Situation and Prospects 2018 report. The improvement is widespread, with roughly two-thirds of countr