China’s export of textiles, apparel, and clothing accessories in the first quarter (Q1) of 2023 amounted to $67.229 billion, which indicates a decline of 6.74 per cent compared to the corresponding period of the previous year, according to the latest data released by the General Administration of Customs of China. The country’s garment exports decreased by 1.3 per cent during the same period.
There’s an improvement in the outbound shipment of garments, with a significant reduction in the decline of exports. Garment exports witnessed a steep fall of 14.7 per cent during the first two months of the current year.
During January-March 2023, garment and clothing accessories exports stood at $35.160 billion, which was 1.3 per cent lower than the same period of last year. The shipment was valued at $35.614 billion in the period under review. China’s textile exports, including yarn, fabrics, and others, registered a fall of 12.1 per cent year-on-year (YoY) to reach $32.069 billion in the first three months of 2023 against the exports of $36.480 billion in January-March 2022.
The imports of textile yarn and fabric products by China also declined by 25.9 per cent to $2.403 billion in January-March 2023 against the shipment of $3.242 billion during the corresponding period of last year.
China had exported textiles, apparel, and clothing accessories worth $323.344 billion in 2022, registering a mild growth of 2.53 per cent compared to the previous year. Last year, the country exported garment and clothing accessories worth $175.396 billion and textile including yarn, fabrics, and others worth $145.079 billion, as per the data.