The world is undergoing changes of a scale unseen in a century, and the international economic and trade environment was turbulent and unstable. In the face of the complex and severe international situation, China’s foreign trade showed strong resilience, which totaled more than CNY 42 trillion in 2022, seeing an increase of 7.7% year-on-year. China has maintained its position as the largest trader in goods trade for the sixth consecutive year.

The data released by the General Administration of Customs show that China exported US$ 323.34 billion worth of textiles and apparel in 2022, seeing a year-on-year increase of 2.6% (5.9% in CNY-denominated terms), hitting a record high. Among them, the exports of textiles reached US$147.95 billion, up by 2.0% year-on-year (4.9% in CNY-denominated terms); that of apparel was US$ 175.40 billion, up by 3.2% year-on-year (6.7% in CNY-denominated terms).

The export growth last year experienced fast growth at first and then slowed down. Since the third quarter, weak overseas orders and market demand have heaped pressure on the foreign trade of China’s textiles and apparel. In the fourth quarter, China’s textile and apparel exports recorded double-digit negative growth.

In December alone, China’s textile and apparel exports were US$ 25.3 billion, down by 16.1% year-on-year (down 7.5% in CNY-denominated terms). Thereinto, textiles exports were US$ 11.0 billion, down by 22.9% year-on-year (down 15% in CNY-denominated terms); apparel exports were US$ 14.3 billion, declined by 10.1% year-on-year (down 0.8% in CNY-denominated terms).

The global economy is slowing down. And apparel retailing in major overseas economies bears the brunt of the recession. The textile and apparel industry is expected to face greater pressure on foreign trade in the first half of 2023. However, challenges and opportunities coexist in 2023. With the adjustment of China’s entry-and-exit policies, the channels for textile and apparel enterprises to obtain overseas orders will be fully and rapidly restored, which will be conducive to enterprises to give full play to the advantages of a complete industrial chain and rapid response capabilities. Their international market share is expected to remain stable.