China top apparel supplier for Australia despite 11.3% drop in Jan-Aug

Australia’s apparel imports from China eased 11.35 per cent to reach at $3,100.217 million during January-August 2023. However, China remained top supplier with 59.70 per cent shipment, out of Australia’s total import of $5,193.321 million during the same period.

During the recent visit of Australian Prime Minister Anthony Albanese to China, both countries have issued a joint statement, which highlighted the significance of strategic economic dialogue, the joint ministerial economic commission and early negotiations for China-Australia Free Trade Agreement (FTA).

According to Fibre2Fashion’s market insight tool TexPro, Australia’s apparel imports from China were recorded at $3,497.271 million during January-August 2022. In the full calendar year 2022, the country had imported apparel worth $5,088.455 million form China, which was 61.81 per cent of its total apparel imports of $8,232.290 million. Apparel imports from China during the year were 9.72 per cent higher than the shipment of $4,637.549 million during 2021. Earlier, the inbound shipment was noted at $4,207.400 million in 2020 and $4,193.826 million in 2019.

As per TexPro, Australia also imported home textiles of $672.425 million from China during January-August 2023, which was 58.51 per cent of its total imports of $1,149.333 million during the same period. Last year, the country’s import of home textiles was valued at $1,312.142 million, which was 5.25 per cent lower than the shipment of $1,384.804 million in 2021. Earlier, it had imported home textiles worth $2,263.762 million during 2020 when global demand of home textiles skyrocketed due to the impact of COVID-19 and lockdowns.

Australia is a major cotton producer in the world, while China is an important buyer of the natural fibre. During the first eight months of current year, China imported cotton (HS code 5201) of $211.750 million from Australia, which was 11.12 per cent of its total import of $1,904.610 million. Australia was the third largest cotton supplier for China.

ALCHEMPro News Desk (KUL)