Apparel / Textiles & Accessories

According to the import and export data, in the first three quarters of this year, China's textile and clothing exports reached US $248.35 billion, a year-on-year growth of 9.1% (10.4% in RMB terms). Among them, textile exports reached US $114.33 billion, up 8.7% year on year (9.7% in RMB); Garment exports reached US $134.02 billion, up 9.4% year on year (11.1% in RMB).

Since the second half of this year, due to the conflict between Russia and Ukraine, high inflation in many countries and the adjustment of monetary and fiscal policies of various countries, the purchasing power and consumption structure of major overseas markets have changed significantly, and our industry is under great pressure to maintain export growth. According to import and export data, in September, China's textile and clothing exports reached US $28.05 billion, down 3.7% year on year (up 0.8% in RMB). Among them, textile exports reached US $12.07 billion, a year-on-year decrease of 2.7%; Apparel exports reached US $15.98 billion, down 4.4% year on year.

The export trade volume of China's textile industry to major international markets has maintained a steady growth this year. According to China's import and export data, in the first eight months, China's exports of textiles and clothing to the United States reached 38.58 billion US dollars, up 7.8% year on year; Exports to ASEAN reached 36.94 billion US dollars, up 23.3% year on year. Among ASEAN member countries, China's exports of textiles and clothing to Vietnam reached US $12.06 billion, accounting for 32.7%, up 4.0% year on year; Over the same period, the export volume of our industry to Malaysia, Thailand and Myanmar has increased by more than 40%. According to the import and export data, from January to August, China's exports of textiles and clothing to the EU reached 34.04 billion US dollars, up 13.2% year on year. Among them, the export growth to Italy and Spain reached about 25%. In addition, exports of textiles and clothing to Japan totaled US $12.96 billion, up 1.3% year on year.

Since the formal entry into force of the Regional Comprehensive Economic Partnership Agreement (RCEP) this year, all member states have actively implemented and jointly promoted the steady growth of intra regional trade. According to the import and export data, from January to August, China's exports of textiles and clothing to RCEP member countries reached US $62.15 billion, up 15.7% year on year. At the same time, in the first eight months of this year, our industry exported US $83.53 billion to countries along the "the Belt and Road", up 18.3% year on year.