Taiwanese Textile Sector Shows Recovery Signals in July

Taiwan’s textile exports demonstrated sound recovery signals in July amid improving industry sentiment, according to the Taiwan Textile Federation, which offered a positive outlook for the remaining months this year, saying the country’s textile and fabric makers may benefit from rising demand ahead of next year’s FIFA World Cup in Russia.

Some fabric makers, such as Shinkong Synthetic Fibers Corp and Far Eastern New Century Corp, are expected to secure large orders of sports apparel from global brands, a leading Taiwanese daily reported quoting the federation.

Several other top manufacturers, including Eclat Textile Co and Makalot Industrial Co, expressed optimism about revenue and earnings picking up in the second half of this year.

The average selling price increased from $4.3 to $4.73 in July and textile exports rose 0.73 percent year-on-year to $814.7 million from the same month last year, according to the federation. The 0.05 percent year-on-year increase in the first seven months is an improvement from a 0.04 percent annual decline in the first six months this year.