China succeeded in gaining in the global textile and apparel trade despite market volatility and a fragile geopolitical scenario. This growth was primarily driven by a rise in textile shipments, as garment exports continued to underperform. The exports of textile products, including yarn and fabric, saw an increase of 5.7 per cent year-on-year (YoY), reaching $141.959 billion, up from $134.332 billion in 2023.
Exports of garments and accessories amounted to $159.142 billion, with a mild gain of 0.3 per cent last year compared to $158.590 billion during the corresponding period in 2023.
In December 2024 alone, China's exports of textile yarn, fabrics, and related articles stood at $13.134 billion, while garment exports were valued at $14.934 billion, bringing the total export value for the month to $28.068 billion.
On the import side, China experienced a 7.8 per cent decrease in textile yarn and fabric imports, which fell to $10.829 billion in 2024, down from $11.742 billion in 2023. For December 2024, imports were valued at $1.020 billion.
In 2023, China's total exports of textiles, garments, and accessories declined by 8.05 per cent to $293.641 billion, down from $319.376 billion in 2022. Garment exports decreased by 7.8 per cent to $159.144 billion, while textile exports fell by 8.3 per cent to $134.497 billion. Imports of textile yarn and fabric products also registered a 1.2 per cent decrease, dropping from $11.881 billion in 2022 to $11.742 billion in 2023.
ALCHEMPro News Desk (KUL)
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