China’s total exports in textiles and clothing, as well as accessories, reached $118.202bn between January and may 2023. Data from China’s General Administration of Customs shows that this represents a 5.26 percent decline compared to last year. Exports of garments decreased by 1.1 percent during this period.
In May 2023, despite a temporary recovery in April of the same year, garment shipment fell again. The exports of apparel and clothing accessories totaled $61.373 billion from January 2023 to May 2023. This is down 1.1% compared to the same time period in 2022. In the previous year, these exports had a value of $62.052.
China’s textile exports such as fabrics and yarns fell by 9.4% YoY in the five-month period of 2023. This is down from $62.719 Billion in January to May 2022.
China’s clothing, textiles and accessories exports have declined from January 2023 to May 20,2023 by 5.26 %, totaling $118.202B. The garment sector has also seen a decline of 1.1 %.
Exports of textiles have fallen by 9.4 percent, and imports are down 21.9 per percent.
China’s exports of these products will grow by 2,53 per cent in 2022.
China has exported textiles worth $12.021 billion and garments worth $13.298.
The country also experienced a drop in its imports, which fell by 21,9% from the previous year to $5.548 Billion for January-May. Textile yarn and fabric goods worth $1.004 billion were imported in May 2023.
China will export $323.344 million worth of clothing and textiles in 2022. That’s a slight increase of 2.53 percent compared with the year before. According to data, last year’s textiles such as fabric and yarn, and garments accounted for $175,396 billion of the total exports.
Fibre2Fashion News Desk (KUL)