China's textile & garment exports down 8.35 per cent to $142 bn in H1

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 per cent 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 per cent 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 per cent 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 totalled $323.344 billion, reflecting a modest 2.53 per cent 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. 

ALCHEMPro News Desk (KUL)