China's textile & garment exports see modest growth of 1.1% in Jan-Jul

This growth was primarily driven by a rise in textile shipments, while garment exports remained sluggish. From January to July 2024, garment and accessories exports totalled $88.983 billion, reflecting a decrease of 0.8 per cent from the $89.671 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 $80.856 billion, up from $78.252 billion in the first seven months of 2023.

In July 2024 alone, Chinese exports of garments and clothing were valued at $15.254 billion, while textile yarn, fabrics, and articles amounted to $11.544 billion, bringing the total for the month to $26.798 billion.

China also experienced an uptick in imports of textile yarn and fabric products, which rose by 0.5 per cent to $6.430 billion in the first seven months of 2024, compared to $6.399 billion during the same period in 2023. In July 2024, imports stood at $0.949 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)