China's textile & garment exports down to $223 bn in Jan-Sept 2023

This reduction was seen across various categories with garment exports experiencing an 8.8 per cent fall. In detail, the exports of garments and accessories accounted for $121.227 billion, down from $132.887 billion in the corresponding timeframe in 2022. 

Textile products such as yarn and fabric also witnessed a significant decrease. The first nine months of 2023 saw a dip of 10.3 per cent year-on-year, reducing the total to $101.920 billion from $113.663 billion in the same period of 2022. 

In the month of September 2023, the exports amounted to $11.638 billion in textiles and $14.558 billion in garments. 

Furthermore, there was a notable decline in China's imports of textile yarn and fabric products, standing at $8.612 billion, 8.3 per cent less than the $9.396 billion in the first nine months of 2022. The value of these imports for September 2023 alone was $1.104 billion. 

In 2022, the country experienced a modest growth of 2.53 per cent in the textile, clothing, and accessory sector with exports amounting to $323.344 billion. This included $175.396 billion from garments and accessories and $147.948 billion from textile products such as yarn and fabric. 

ALCHEMPro News Desk (KUL)