China's textile & garment exports down 10% to $170 bn in Jan-Jul 2023

The export of garments and clothing accessories came to $90.941 billion in January-July 2023, a reduction of 8.3 per cent from the $99.133 billion reported during the corresponding period in 2022. 

The period of 2023 also saw China's exports of textiles, such as yarn and fabric, decline by 11.9 per cent year-on-year. The total dropped to $78.849 billion from $89.465 billion in the first seven months of 2022. 

For July 2023 alone, China's exports comprised $11.154 billion in textiles and $15.960 billion in garments. 

At the same time, China's imports of textile yarn and fabric products fell 15.3 per cent to $6.399 billion in the first seven months of 2023, down from $7.555 billion during the same period in 2022. In July 2023, the country's imports of these products were valued at $1.056 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)