A water-absorbing quick drying woven or knitted fabric characterized by containing 20% by weight or more of sheath-core type polyester fiber satisfying the following (1) to (4) requirements: (1) the fiber is a modified cross-section fiber having one or more recessed portions in its single yarn section; (2) the sheath part contains polyethylene glycol, and weight ratio of sheath part/core part is in a range of 20/80 to 50/50; (3) an amount of polyethylene glycol in the sheath-core type polyester fiber be in a range of 0.1 to 1.0% by weight; (4) long streak-like grooves A and short streak-like grooves B are present in a mixed state along the direction of fiber axis, and lengths of the streak-like grooves A and streak-like grooves B are 30 μm or more and 15 μm or more, respectively; provided that, P is a ratio of length to width of the groove, and represented by P=[Length]/[Width].