According to the newsletter released by the General Administration of Customs, from January to February this year, China’s textile and garment exports amounted to US$42.88 billion, seeing a year-on-year decrease of 4.5%. Among them, textile exports reached US$21.22 billion, down by 2.0% year-on-year; apparel exports amounted to US$21.66 billion, declining by 6.9% year-on-year.

In CNY-denominated terms, China’s textile and garment exports amounted to 308.29 billion yuan in the first two months, decreasing 3.4% year-on-year. Among them, textile exports amounted to 152.55 billion yuan, seeing a slight year-on-year drop of 0.9%; apparel exports amounted to 155.74 billion yuan, dropping by 5.8% year-on-year decline.

Even including the entire Chinese Spring Festival holiday, the export scale of US$42.88 billion in the first two months of this year is at a historically high level for the same period. Despite the year-on-year decline in exports due to last year’s high base effect, the performance still exceeded market expectations.

At present, global trade protectionism is intensifying. Raising tariff barriers will disturb the exports of China’s textile industry; enterprises need to pay close attention to changes in the external situation. In addition, with monetary policy gradually entering the easing cycle, this year’s foreign demand market is expected to remain stable overall, requiring enterprises to develop diversified international market support.

Source: CHINA TEXTILE LEADER Express