After a short recovery in April, 2023 garment exports fell back in decline by May. Exports of clothing and accessories from January to may 2023 reached $61.373 Billion, which is a 1.1% decrease compared with the same period last year. In the previous year, these exports had a value of $62.052.
China’s textile exports such as fabrics and yarns fell 9.4 percent year-on-year during the first five-month period of 2023. This is down from $62.719 Billion in January to May 2022.
China’s clothing and textile exports have declined from January 2023 to May 20,2023 by 5.26 percent, to $118.202 million. The garment sector has also decreased 1.1%.
Exports of textiles dropped by 9.4 percent, while imports declined by 21.9%.
China’s exports of these products will grow by 2,53 per cent in 2022.
China has exported textiles worth $12.021 billion and garments worth $13.298.
Imports of fabric and textile products have also decreased, with a decline of 21,9% to $4,334 billion from $5,548 billion for the same time period in 2023. In May 2023, the country imported textile products and yarns worth $1.004 billion.
China exports $323.344 Billion worth of textiles and clothing in 2022. This represents a modest increase of 2.53 per cent over the prior year. Data shows that last year, China exported $175.396 in clothing and accessories, as well as $145.079 in textiles like yarn and fabric.
Fibre2Fashion News Desk (KUL)