2023/12/22

It is discernible that China’s economy has been on an upward trajectory since the third quarter, with foreign trade stabilizing and the effective execution of established policies in China. Furthermore, the movement of individuals between China and foreign nations has been markedly convenient. The stabilization of China’s textile and apparel exports can be attributed to the gradual recuperation of demand in major developed markets abroad, complemented by the combined efforts of emerging markets.

In CNY-denominated terms, from January to November, the cumulative textile and apparel exports amounted to CNY 1.88 trillion, down 3.5% year-on-year. Thereinto, the textile exports totaled CNY 865.57 billion, down by 3.7% year-on-year; apparel exports were CNY 1.02 trillion, seeing a year-on-year decline of 3.3%. In November, textile and apparel exports reached CNY 169.88 billion, seeing a year-on-year decline of 1.8% and a month-on-month increase of 3%. Among them, textile exports were CNY 79.82 billion, declining by 0.5% year-on-year; apparel exports were CNY 90.06 billion, down by 2.9% year-on-year.

According to the latest data from the General Administration of Customs, in US$-denominated terms, textile and apparel exports reached US$ 23.66 billion in November alone, seeing a year-on-year decline of 1.8%, 6.6 percentage points narrower than the previous month. From January to November, China’s textile and apparel exports totaled US$ 268.56 billion, seeing a year-on-year decline of 8.9%. Among them, textile exports were US$ 123.36 billion, down by 9.2% year-on-year; apparel exports reached US$ 145.2 billion, dropping by 8.6% year-on-year.

Source: CHINA TEXTILE LEADER Express