Jan. 9, 2012 (China Knowledge) - Large and medium-sized textile enterprises in China saw their gross industrial output surge 27.5% year on year to RMB 4.95 trillion in the first 11 months of 2011, according to figures released by the National Development and Reform Commission
The growth rate was 2.5 percentage point lower than that in the first half of last year.
The output of yarn rose 12.5% year on year to 26.32 million metric tons in the first 11 months, while that of cloth increased 13.3% year on year to 56.78 billion meters. The industry produced 22.97 billion garments and 30.74 million metric tons of chemical fiber during the period, up 8.5% and 14.9% year on year, respectively.
The textile industry reaped a gross profit of RMB 215.56 billion in the first 11 months, 29%% more than that in the corresponding period of last year. The growth rate was 12.3 percentage points lower than that in the first half. The sector's profit margin was steady at 5% during the period.
The country's exports of textile products and garments were US$86.37 billion and US$139.78 billion in the first 11 months, up 24% and 19.5% year on year, respectively.