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Sunday, May 26, 2024

China’s textile and garment exports are down 8.35 percent to $142 bn

In the first half (H1) of 2023, China’s cumulative exports of textiles, clothing, and accessories reached $142.677 billion, according to data from the General Administration of Customs of China. This represented an 8.35 percent decline compared to the same period in 2022. Notably, garment exports saw a decrease of 5.9 percent during this period.

In June 2023, the downward trend in garment shipments persisted, despite a brief respite in May. The six-month export total for garments and clothing accessories came to $74.981 billion, a reduction of 5.9 percent from the $79.678 billion reported during the corresponding period in 2022.

The first half of 2023 also saw China’s exports of textiles, such as yarn and fabric, decline by 10.9 percent year-on-year.

The total dropped to $67.696 billion from $75.994 billion in the first half of 2022.

For June 2023 alone, China’s exports comprised $11.567 billion in textiles and $15.424 billion in garments.

At the same time, China’s imports of textile yarn and fabric products fell 19.6 percent to $5.342 billion in the first six months of 2023, down from $6.644 billion during the same period in 2022. In June 2023, the country’s imports of these products were valued at $1.007 billion.

In the preceding year, 2022, China’s textile, clothing, and accessory exports totaled $323.344 billion, reflecting a modest 2.53 percent growth compared to 2021. The exports for that year included $175.396 billion in garments and accessories and $145.079 billion in textile products, such as yarn and fabric.

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