Taiwan's textile exports for the first six months of 2014 fell slightly year-on-year in reflection of falling product prices. Exports of Taiwan-made textile products, including ready-to-wear garments and upstream fabrics, totaled $5.81 billion in the six-month period, down 0.3 per cent from a year earlier.
The fall resulted from a slight downtrend in unit product prices, in particular the price of artificial fibers. Taiwan's textile imports, meanwhile, rose by an annual 2.9 per cent in the first half of the year. The local textile sector registered a trade surplus of $4.22 billion in the first half, down 1.4 per cent from a year earlier. In June alone, Taiwan's textile exports totaled $982 million, down 1.4 per cent from a year earlier, while imports rose by an annual 11 per cent to $261 million.
Last month, the local textile sector’s trade surplus fell 5.3 per cent year-on-year. Earlier textile and apparel industry in Taiwan relied on imported raw materials for its production and exported most of the finished product overseas. As the industry evolved, it began utilizing petrochemical-derived materials and importing raw cotton yarn and manmade fiber staple yarn. In time, it became vertically integrated throughout the supply chain, from man-made fiber manufacturing to yarn spinning to weaving and knitting to dyeing and finishing.