The Trend of China's Textile and Apparel Exports Is Changing
The latest data from the General Administration of Customs show that China's textile and apparel exports in October were US$24.845 billion, an increase of 8.64% year on year, but a decrease of 12.45% month on month. Among them, the export volume of textiles (including textile yarn, fabric and products) was US$11.661.7 billion, up 14.84% year on year and down 11.33% month on month. Exports of apparel (including clothing and accessories) were US$13.183 billion, up 3.7% year-on-year and down 13.41% month-on-month. From January to October in 2020, China's textile and apparel exports totaled US$240.6287 billion, with a year-on-year growth of 9.52%. Among them, the textile exports totaled US$129.6118 billion, with a year-on-year growth of 31.89%. Apparel exports totaled US$111.0169 billion, down 8.59% year on year. According to the data, due to the resurgence of COVID-19, and the pandemic in Europe, the United States, Southeast Asia and other countries are still serious, China's exports of masks, protective suits and other types of textiles has maintained a rapid growth year-on-year. Apparel exports in October maintained year-on-year growth, but the growth rate was significantly narrower than that in September, with insufficient growth momentum. According to analysts within the industry, there are two main reasons: On the one hand, the "Double 11", Christmas orders since September are still continuing. On the other hand, the rapid rise in the price of raw materials inhibited traditional textile apparel transactions in late October. The price of raw materials has risen rapidly in the short term, and the high price has led to a significant decline in the textile and apparel transactions. Textile enterprises dare not accept large orders, and some orders are lost. Some customers also reported that as the pandemic in Southeast Asia was brought under control, some orders have been transferred to Southeast Asia. It is expected that China's textile and apparel exports in November will continue to decline month-on-month, but the export volume of masks and protective textiles is expected to continue to grow.