China's textile & garment exports see modest growth in H1 2024

This growth was primarily driven by a rise in textile shipments, while garment exports remained relatively stable. From January to June 2024, garment and accessory exports totalled $73.825 billion, reflecting a slight 0.02 per cent decrease from the $73.842 billion recorded in the same period of 2023.

Textile products, including yarn and fabric, saw a notable increase, with exports rising by 3.3 per cent year-on-year to $69.350 billion, up from $67.156 billion in the first half of 2023.

In June 2024 alone, Chinese exports of garments and clothing were valued at $15.146 billion, while textile yarn, fabrics, and articles amounted to $12.248 billion, bringing the total for the month to $27.394 billion.

China also experienced an uptick in imports of textile yarn and fabric products, which rose by 2.6 per cent to $5.481 billion in the first half of 2024, compared to $5.343 billion during the same period in 2023. In June 2024, imports stood at $0.890 billion.

In contrast, 2023 saw a decline in China's exports of textiles, garments, and accessories, which fell by 8.05 per cent to $293.641 billion 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)