China's textile & garment exports down 8.8% to $268 bn in Jan-Nov 2023

This reduction spanned various categories, with garment exports experiencing an 8.6 per cent fall. The exports of garments and accessories during the 11-month period totalled $145.198 billion, down from $158.832 billion in the corresponding timeframe in 2022.

Textile products, including yarn and fabric, also saw a significant decrease. The first eleven months of 2023 recorded a 9.2 per cent year-on-year dip, lowering the total to $123.362 billion from $135.912 billion in the same period of 2022.

In November 2023 alone, China’s exports amounted to $11.119 billion in textiles, and $12.545 billion in garments and accessories.

Moreover, China’s imports of textile yarn and fabric products also declined to $10.725 billion, which is 3.2 per cent less than the $11.074 billion in the first eleven months of 2022. The import value for November 2023 was $1.045 billion.

In 2022, China’s textile, clothing, and accessory exports saw modest growth of 2.53 per cent, with shipments reaching $323.344 billion. This included $175.396 billion of garments and accessories, and $147.948 billion of textile products like yarn and fabric.

ALCHEMPro News Desk (KUL)