The data released by the General Administration of Customs indicates that China’s textile and apparel exports maintained a steady recovery in the first seven months of this year. In US$-denominated terms, textile and apparel exports totaled US$ 169.84 billion in January to July, seeing a year-on-year growth of 1.1%. Among them, textile exports were US$ 80.86 billion, up by 3.3% year-on-year; apparel exports reached US$ 88.98 billion, down by 0.8% year-on-year.

In July alone, China exported US$ 26.8 billion worth of textile and apparel, down by 0.5%. Thereinto, the textile exports totaled US$ 11.54 billion, increasing by 4.0% year-on-year; apparel exports were US$ 15.26 billion yuan, seeing a year-on-year decline of 3.6%.

Figure 1: Monthly Statistics of China’s Textile and Apparel Exports in Jan.-Jul.

In the first half of this year, the foreign trade of China’s textile industry improved quarter by quarter. China’s textile and apparel exports in the second quarter increased by 17.5% compared with that of the first quarter. In June alone, the exports of China’s textiles and apparel reached US$ 27.4 billion, seeing a year-on-year increase of 2.5% (4.5% year-on-year increase in CNY-denominated terms). Among them, textile exports amounted to US$ 12.25 billion, showing a 6.7% year-on-year growth (8.8% year-on-year growth in CNY-denominated terms). Apparel exports totaled US$ 15.15 billion, with a slight decrease of 0.6% year-on-year (1.3% year-on-year increase in CNY-denominated terms).

Currently, China’s textile and apparel exports to major markets are showing signs of recovery. Among them, the growth rate of exports to the United States accelerated, while the decline in exports to Japan, South Korea, and other markets gradually narrowed. Exports to the ASEAN countries, Central Asia, and Bangladesh maintained steady growth. Although the complex and severe external situation has brought greater uncertainty and risk challenges to China’s textile industry’s foreign trade, a series of national macro-control policies have been implemented. As a result, the foreign trade of China’s textile industry is expected to continue a stable recovery trend in the second half.

Source: CHINA TEXTILE LEADER Express