Textile industry slowly recovers, annual output value 460 billion

The Textile Research Institute's ITIS project estimates that in the third quarter of 2013 the textile industry in Taiwan, China slowly recovered, with an output value of NT$116.3 billion, and the full-year output value is estimated at 460 billion yuan, an annual increase of 0.5%.

The Textile Research Institute's ITIS project (Industrial Technology Knowledge Service Project of the Department of Industrial Technology, Ministry of Economic Affairs) stated that the Executive Yuan's Directorate-General of Budget, Accounting and Statistics released this year's third-quarter economic growth rate of 1.58%, a downward revision of 0.89 percentage points from the forecast made in August.

According to the Chung-Hua Institution for Economic Research's estimate, Taiwan, China's fourth-quarter economic growth rate will be 1.86%. Although the economy continues to recover, the growth momentum is quite limited.

The Textile Research Institute's ITIS project estimates that in the fourth quarter the total output value of Taiwan, China's textile industry will be 118.5 billion yuan, of which the man-made fiber industry will be 36.3 billion yuan, the textile industry 75.9 billion yuan, and the apparel and accessories industry 6.3 billion yuan; in total, the total output value of Taiwan, China's textile industry in 2013 will be 460 billion yuan, an increase of 0.5% over 2012.

According to data from the Department of Statistics of the Ministry of Economic Affairs, the total output value of the overall textile industry in the third quarter is estimated to reach 116.3 billion yuan, an annual increase of 4.5%; the output value of the man-made fiber industry is estimated at 34.924 billion yuan, a quarterly increase of 2.5% and an annual increase of 3.2%, accounting for 30% of the overall textile industry output value.

The textile industry is estimated at 75.396 billion yuan, a quarterly increase of 0.9% and an annual increase of 5.9%, accounting for 65% of the overall textile industry output value; the output value of the apparel and accessories industry is estimated at 5.988 billion yuan, a quarterly increase of 3.8% and an annual decrease of 4.6%, accounting for 5% of the overall textile industry output value.

The Textile Research Institute's ITIS project analyzed that although the man-made fiber industry in the third quarter of 2013 grew compared with the second quarter, market demand remained weak; although the textile industry and apparel industry continued the growth of the second quarter, the growth rate clearly weakened.