Driven by the recovering domestic and offshore market demand, China textile machinery industry export has witnessed considerably faster growth than expected.

According to the statistics unveiled by China Textile Machinery Association, trade turnover of the first five months of 2010 reached US$ 2.118 billion, rising by 63.37% year-on-year, among which export accounted for US$ 625 million, rising by 38.33% year-on-year with growth velocity increasing 72.88 percentage points as compared with the same period of last year.

Import accounted for US$ 1.429 billion, rising by 76.78% year-on-year with growth velocity increasing 134.02 percentage points. Considering all the uncertainties, the trade situation for the 2nd half year will not be as optimistic as it seems for the first half year.

Source: China Textile Leader