China's textile & garment exports inch up 1.5% to $247 bn in Jan-Oct

This growth was primarily driven by a rise in textile shipments, as garment exports continued to lag. From January to October 2024, exports of garments and accessories amounted to $131.199 billion, a slight decline of 0.7 per cent compared to $132.096 billion during the corresponding period in 2023.

Conversely, exports of textile products, including yarn and fabric, saw an increase of 4.1 per cent year-on-year (YoY), reaching $116.685 billion, up from $112.047 billion during the same period in 2023.

In October 2024 alone, China’s garment exports were valued at $13.093 billion, while exports of textile yarn, fabrics, and related articles stood at $12.386 billion, bringing the total export value for the month to $25.479 billion.

On the import side, China experienced a 7.2 per cent decrease in textile yarn and fabric imports, which fell to $8.985 billion in the first ten months of 2024, down from $9.680 billion during the same period in 2023. For October 2024, imports were valued at $0.835 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)