Textile And Garment Exports Resumed Growth In July. China's Foreign Trade Has Been Increasing Its Endogenous Drive.

In July, China's foreign trade continued to grow steadily, and exports returned to the two digit growth path.


According to the data released by the General Administration of Customs in August 8th, the total value of China's foreign trade imports and exports in July was 2 trillion and 740 billion yuan, an increase of 5.7% over the same period last year. Among them, exports were 1 trillion and 530 billion yuan, an increase of 10.3%; imports of 1 trillion and 210 billion yuan, an increase of 0.4%; trade surplus of 310 billion 260 million yuan, an expansion of 79%.


Among them, the export of textile and clothing was rising, and the export amount denominated in RMB and US dollar increased. In terms of RMB, exports amounted to 189 billion 370 million yuan in July, an increase of 9%, of which 74 billion 100 million yuan for textile exports, 13.1% for rapid growth, 115 billion 270 million yuan for clothing exports, and 6.4% for growth. 1~7 months, textile and apparel exports totaled 1 trillion and 33 billion 330 million yuan, an increase of 4.5%, of which 472 billion 70 million yuan for textile exports, 7.7% for growth, and 561 billion 260 million for clothing exports, an increase of 2%.


In dollar terms, exports of textiles and clothing increased by US $27 billion 520 million in July, an increase of 2.5%, of which 10 billion 770 million US dollars in textile exports, an increase of 6.2%, and clothing exports 16 billion 750 million US dollars, an increase of 0.3%. 1~7 textile and apparel exports totaled 151 billion 740 million US dollars, down 1.5%, of which 69 billion 380 million US dollars in textile exports, an increase of 1.5%, and clothing exports 82 billion 360 million US dollars, down 3.9%.


In the recent analysis of China's textile industry held in the first half of 2019, the China Textile News reporter learned that since 2019, the export pressure of the textile industry has increased significantly compared with the same period last year, and the product mix and market structure have been quickening adjustment due to the weakening of the international economic recovery and the rising risk of trade environment. According to China Customs data, in the first half of this year, China's textile and clothing exports amounted to US $128 billion 400 million, down 2% from the same period last year, and the growth rate slowed down 4.8 and 0.4 percentage points respectively from the same period last year and the first quarter of this year. From the perspective of product mix, upstream chemical fiber, yarn, fabric and other products have become the main driving force for export growth. In the first half of this year, China's textile exports grew by 1% over the same period last year, accounting for 48.2% of the total export volume of the industry, up 4.1 percentage points from 2018, while garment exports fell 4.7% over the same period. The export market structure shows that exports to emerging markets are better than traditional markets. In the first half of this year, China's exports of textiles and clothing to the United States, the European Union and Japan decreased by 0.7%, 4.2% and 4.7% respectively, and their exports to ASEAN, Mexico and Africa increased by 0.8%, 3.9% and 5.2%, respectively.