China's textile & garment exports see mild growth of 1.1% in Jan-Aug

This growth was primarily driven by a rise in textile shipments, while garment exports remained sluggish. From January to August 2024, garment and accessories exports totalled $104.705 billion, reflecting a decrease of 1.0 per cent from the $105.723 billion recorded during the same period in 2023.

Textile products, including yarn and fabric, saw a notable increase, with exports rising by 3.5 per cent year-on-year to $93.068 billion, up from $89.886 billion in the first eight months of 2023.

In August 2024 alone, Chinese exports of garments and clothing were valued at $15.731 billion, while textile yarn, fabrics, and articles amounted to $12.218 billion, bringing the total for the month to $27.949 billion.

China experienced a downward trend in imports of textile yarn and fabric products, which decreased by 3.3 per cent to $7.259 billion in the first eight months of 2024, compared to $7.508 billion during the same period in 2023. In August 2024, imports stood at $0.828 billion.

In 2023, China’s exports of textiles, garments and accessories fell by 8.05 per cent to $293.641 billion, down from $319.376 billion in 2022. Garment exports dropped by 7.8 per cent to $159.144 billion, while textile exports decreased by 8.3 per cent to $134.497 billion. Imports of textile yarn and fabric products also declined by 1.2 per cent to $11.742 billion from $11.881 billion in 2022.

ALCHEMPro News Desk (KUL)