Home breadcru News breadcru Trade breadcru  | China's Q1 apparel exports to Germany plunge 25 per cent to $886 mn

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China's Q1 apparel exports to Germany plunge 25 per cent to $886 mn

21 May '23
2 min read
Pic: Shutterstock.com
Pic: Shutterstock.com

Insights

  • China-Germany bilateral trade declined *.* per cent in Q1 2023, with China's apparel exports to Germany falling by *.* per cent YoY to $*******.*** million.
  • Despite the downturn, China remained Germany's top trading partner.
  • China's outbound shipments increased to $*.*** billion in 2022.
  • Germany was the *th largest market for China's apparel exports in 2022.

China remained Germany&#**;s most significant trading partner, despite a **.* per cent decrease in bilateral trade volume to **.* billion euros ($**.** billion) from the previous year&#**;s same quarter. The Ukraine-Russia war has spurred inflation in Europe and the US due to more expensive crude oil and other commodities, including food. This inflation has constrained the purchasing power of the average consumer, impacting the demand for discretionary items. The war has also disrupted economic, trading, and industrial activities in Germany and Europe at large. 

China&#**;s apparel exports to Germany peaked at $*,***.*** million in July-September **** and then fell to $*,***.*** million in October-December ****, according to Fibre2Fashion&#**;s market insight tool TexPro

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