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

China remained Germany's most significant trading partner, despite a 10.5 per cent decrease in bilateral trade volume to 64.7 billion euros ($70.25 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 $1,923.516 million in July-September 2022 and then fell to $1,212.235 million in October-December 2022, according to Fibre2Fashion's market insight tool TexPro. 

China's outbound shipments increased to $6.028 billion in 2022 from $5.678 billion in 2021. China exported apparel worth $6.404 billion in 2018, which declined to $5.679 billion in 2019 and further to $4.981 billion in 2020. 

Germany was the fifth largest market for China's total apparel exports, accounting for 3.62 per cent of China's total apparel exports worth $166.600 billion in 2022. Meanwhile, China was the largest supplier of Germany's apparel imports, contributing 13.92 per cent to Germany's total apparel imports worth $46.026 billion last year, as per data obtained from TexPro. 

ALCHEMPro News Desk (KUL)