Sunsirs: China Textile and Apparel Exports Reached US $143.98 Billion, An Increase of 0.8%

The General Administration of Customs recently released a statistical bulletin showing that China's textile industry maintained overall stability in foreign trade in the first half of this year under pressure. From January to June, China's exports of textiles and clothing amounted to $143.98 billion, a year-on-year increase of 0.8%. Among them, exports of textiles amounted to $70.52 billion, a year-on-year increase of 1.8%; exports of clothing amounted to $73.46 billion, a slight decrease of 0.2% year-on-year.

In terms of RMB, the export volume of textiles and apparel in the first half of the year was 1034.82 billion RMB, a year-on-year increase of 1.9%. Among them, the export volume of textiles was 506.81 billion RMB, a year-on-year increase of 3%; the export volume of apparel was 528.01 billion RMB, a year-on-year increase of 1%.

Since the beginning of this year, China's textile industry has faced a complex and severe external environment, leading to a significant increase in export pressure. Especially after the second quarter, China's textile products exports to the United States have shown obvious fluctuations. Data from the General Administration of Customs shows that from April to May, China's trade volume of textiles and clothing with the United States decreased by about 20% year-on-year. However, thanks to a complete industrial system and advanced manufacturing advantages, coupled with the effectiveness of a diversified international market layout, China's textile industry's dependence on a single market has continued to decline, and exports to developed economies such as the EU, Japan, and South Korea, as well as to emerging markets such as Bangladesh, Cambodia, Indonesia, Brazil, and Nigeria, have remained vibrant, demonstrating strong export resilience. In June, China's textile products and clothing exports to the global market totaled $27.31 billion, a slight decrease of 0.1% year-on-year (an increase of 1.1% year-on-year in RMB terms). Among them, exports of textiles totaled $12.05 billion, a decrease of 1.6% year-on-year (a decrease of 0.3% year-on-year in RMB terms); exports of clothing totaled $15.27 billion, an increase of 1.1% year-on-year (an increase of 2.3% year-on-year in RMB terms).

In the face of the current foreign trade situation, China's textile enterprises urgently need to flexibly adjust their strategies. On the one hand, market diversification should be regarded as a key measure to enhance the safety and resilience of foreign trade, and the ability to resist risks should be continuously enhanced. On the other hand, we should focus on the resilience of the industrial chain and the improvement of product added value, and actively use new formats and new models to accelerate the cultivation of new momentum for foreign trade growth.

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