The gains were noted in both textile and garment exports. Exports of garments and accessories during January to May 2024 totalled $57.126 billion, a 0.2 per cent increase from the $55.680 billion shipped in the same period in 2023.
Textile products, including yarn and fabric, also saw an increase. From January to May 2024, there was a 2.6 per cent year-on-year rise, reaching a total of $58.716 billion from $58.603 billion in the same period in 2023.
In May 2024, Chinese exports of garments and clothing were recorded at $13.246 billion, while shipments of textile yarn, fabrics, and articles amounted to $12.886 billion, totalling $26.133 billion.
Moreover, China's imports of textile yarn and fabric products increased to $4.591 billion, a 5.9 per cent rise from the $4.335 billion in the first five months of 2023. In May 2024, imports by China reached $0.920 billion.
In 2023, China's exports of textiles, garments, and accessories decreased by 8.05 per cent to $293.641 billion from $319.376 billion in 2022. Garment exports fell by 7.8 per cent to $159.144 billion, and textile exports declined by 8.3 per cent to $134.497 billion last year. China's imports of textile yarn and fabric products also decreased by 1.2 per cent to $11.742 billion from $11.881 billion in 2022.
ALCHEMPro News Desk (KUL)
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