Taiwan's textile exports up 15% to US$930 M. in Jan.

Taipei, Feb. 18, 2005 (CENS)--Taiwan's exports of textile products came to US$930 million in January, up 15% from the corresponding figure of last year, according to customs statistics.

Among export items, textured yarns saw the highest growth of 18%, with export value amounting to US$652 million.

In the same month, garment exports dropped by 4.7% to US$97 million, mainly because of orders postponed due to the cancellation of the Multi-Fiber Agreement on global textile quotas beginning in 2005. Exports of other textile products rose 19.5% to US$181 million.

As for synthetic fibers, many leading manufacturers on the island showed lackluster performances in the fourth quarter of 2004 as mainland Chinese customers slashed their planned purchases. Market observers saw purchases rebound in January in the market for synthetic fibers and textured yarns, and they estimated the inventory of textured polyester yarns to drop to 80,000 metric tons and that of polyester filament to decline to 40,000 metric tons for the month.

In February the production volume of textured yarns is expected to be cut by half because of more than one-week production suspension during the Chinese New Year holidays. Besides, the synthetic fiber market in mainland China would not pick up until after long new year holidays end.