According to the latest data released by the General Administration of Customs on September 10, affected by slowing demand in major markets, increasing trade barriers, falling export prices and other factors, textile and garment exports in August only increased by 1% year-on-year, although slightly better than the previous month, but the growth rate is still lower than the national trade in goods. In dollar terms, textile and garment exports in August were 27.95 billion US dollars, up 1% year on year. Among them, textile exports increased by 5.1%, driving the overall export growth. Apparel exports fell 2 percent year-on-year from a low base last year, narrowing 1.6 percentage points from the previous month.
Textile and garment exports in RMB:
From January to August 2024, the cumulative export of textile and apparel was 1,455.99 billion yuan, an increase of 3.2% over the same period last year (the same below), of which textile exports were 661.6 billion yuan, an increase of 5.8%, and clothing exports were 744.39 billion yuan, an increase of 1%.
In August, textile and garment exports were 199.28 billion yuan, down 0.7% year-on-year, up 4.5% month-on-month, of which textile exports were 87.12 billion yuan, up 3.3% year-on-year, up 6.1% month-on-month, and clothing exports were 112.16 billion yuan, down 3.6% year-on-year, up 3.3% month-on-month.
Textile and garment exports in US dollars:
From January to August 2024, the cumulative export of textile and apparel was US $197.77 billion, up 1.1%, of which textile exports were US $93.07 billion, up 3.5%, and garment exports were US $104.71 billion, down 1%.
In August, textile and garment exports were 27.95 billion US dollars, up 1% year-on-year, up 4.3% month-on-month, of which textile exports were 12.22 billion US dollars, up 5.1% year-on-year, up 5.8% month-on-month, and clothing exports were 15.73 billion US dollars, down 2% year-on-year, up 3.1% month-on-month.
(Source: China Textile Import and Export Chamber of Commerce)