China's textile & garment exports down 8.05% to $293.6 bn in 2023

In 2023, China's cumulative exports of textiles, garments, and accessories decreased to $293.641 billion, according to data released by the General Administration of Customs of China. This represents an 8.05 per cent decline from the $319.376 billion recorded in 2022. 

This reduction spanned various categories, with garment exports experiencing a 7.8 per cent fall. The exports of garments and accessories during the last year totalled $159.144 billion, down from $172.639 billion in 2022. 

Textile products, including yarn and fabric, also saw a significant decrease. In 2023, there was an 8.3 per cent year-on-year dip, lowering the total to $134.497 billion from $146.737 billion in the same period of 2022. 

In December 2023 alone, China’s exports amounted to $11.206 billion in textiles, and $14.065 billion in garments and accessories. 

Moreover, China's imports of textile yarn and fabric products also declined to $11.742 billion, which is 1.2 per cent less than the $11.881 billion in 2022. The import value for December 2023 was $1.017 billion. 

ALCHEMPro News Desk (KUL)