Fri, Sep 01, 2017 - Page 11 News List

Textile sector moved into cautious recovery in July

By Kuo Chia-erh  /  Staff reporter

The nation’s textile exports showed steady signs of recovery in July amid improving industry sentiment, the Taiwan Textile Federation (紡拓會) said in a statement yesterday.

The average selling price increased from US$4.3 to US$4.73 in July and textile exports rose 0.73 percent year-on-year to US$814.7 million from the same month last year, which caused cumulative exports from January to July to edge up 0.05 percent year-on-year to US$5.8 billion, according to the statistics compiled by the federation.

The 0.05 percent year-on-year increase in the first seven months was an improvement from a 0.04 percent annual decline in the first six months, the federation’s data showed.

The federation, which is responsible for the promotion of the textile industry, gave a positive outlook for the remaining months, saying that Taiwanese textile and fabric makers are likely to benefit from rising demand ahead of next year’s FIFA World Cup.

Some fabric makers are expected to secure large orders of sports apparel from global brands, the federation said, citing Shinkong Synthetic Fibers Corp (新光合成纖維) and Far Eastern New Century Corp (遠東新世紀).

Textile and garment manufacturer Eclat Textile Co (儒鴻), one of the benchmark companies in the industry, said that its revenue would pick up in the second half due to orders from its five new brand customers

Another top player, Makalot Industrial Co (聚陽實業), also expressed optimism, saying that revenue and earnings this quarter would improve from the same period last year on robust customer demand.

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