The data released by the General Administration of Customs indicates that China’s textile and apparel exports US$ 197.77 billion from January to August, seeing year-on-year growth of 1.1% (3.2% growth in CNY-denominated terms), slower than that of the first half of the year. Among them, textiles exports were US$ 93.07 billion, up by 3.5% year-on-year (5.8% growth in CNY-denominated terms); apparel exports reached US$ 104.71 billion, down by 1.0% year-on-year (up by 1.0% in CNY-denominated terms).

In August alone, China exported US$ 27.95 billion worth of textiles and apparel, up by 1.0% (up by 0.6% in CNY-denominated terms). Thereinto, the textiles exports totaled US$ 12.22 billion, increasing by 5.0% year-on-year; apparel exports were US$ 15.73 billion yuan, seeing a year-on-year decline of 2.0%.

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

Currently, China’s textile industry exports are still facing insufficient effective demand, intensified market competition, geopolitical instability, and increased risk challenges. However, foreign trade enterprises have actively explored diversified international markets. Southeast Asia, Africa, Latin America, Central Asia, and other emerging countries show bright export trade growth. According to the General Administration of Customs, China’s exports of textiles and apparel to ASEAN reached US$ 31.1 billion from January to July this year, seeing a year-on-year increase of 8.9%. At the same time, China’s textile enterprises actively promote product upgrading based on technological innovation to meet the market demand and expand cross-border e-commerce and other new models.

Source: CHINA TEXTILE LEADER Express