China's textile & garment exports up 2.2% to $267 bn in Jan-Nov

This growth was primarily driven by a rise in textile shipments, as garment exports continued to lag. From January to November 2024, exports of garments and accessories amounted to $144.222 billion, a slight decline of 0.2 per cent compared to $144.577 billion during the corresponding period in 2023.

Conversely, exports of textile products, including yarn and fabric, saw an increase of 4.6 per cent year-on-year (YoY), reaching $128.837 billion, up from $123.144 billion during the same period in 2023.

In November 2024 alone, China's garment exports were valued at $13.016 billion, while exports of textile yarn, fabrics, and related articles stood at $12.156 billion, bringing the total export value for the month to $25.172 billion.

On the import side, China experienced an 8.1 per cent decrease in textile yarn and fabric imports, which fell to $9.852 billion in the first 11 months of 2024, down from $10.725 billion during the same period in 2023. For November 2024, imports were valued at $0.867 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)