China's textile & garment exports down 5.26% to $118 bn in Jan-May

Despite a brief recovery in April 2023, garment shipments slipped back into decline in May. From January to May 2023, the export of garments and clothing accessories reached $61.373 billion, a 1.1 per cent decrease from the same period in 2022. These exports were valued at $62.052 billion in the prior year. 

China's exports of textiles, such as yarn and fabric, fell 9.4 per cent year-on-year (YoY) in the first five months of 2023, down to $56.829 billion from $62.719 billion in January-May 2022. 

In April 2023 alone, China exported $12.021 billion worth of textiles and $13.298 billion worth of garments. 

Meanwhile, the country's imports of textile yarn and fabric products also saw a decrease, falling by 21.9 per cent to $4.334 billion in January-May 2023 from $5.548 billion during the same period last year. The country imported textile yarn and fabric products worth $1.004 billion in May 2023. 

China exported $323.344 billion worth of textiles, clothing, and accessories in 2022, marking a modest growth of 2.53 per cent compared to the previous year. Last year's exports included $175.396 billion in garments and accessories and $145.079 billion in textiles, such as yarn and fabric, according to the data. 

ALCHEMPro News Desk (KUL)