China'S Textile And Garment Export Is Better Than Expected In The First Half Of 2020

On July 14, the General Administration of Customs of the people's Republic of China released the national cargo trade data from January to June 2020. In the first half of the year, the total value of imports and exports of goods trade was 14.2 trillion yuan, down 3.2% compared with the same period last year (the same below). Among them, 7.7 trillion yuan was exported, 3.5 trillion yuan was imported, down 3.3%. In June, the import and export of foreign trade reached 2.7 trillion yuan, an increase of 5.1%, including 1.5 trillion yuan of export, 4.3% growth, and 1.2 trillion yuan of import, an increase of 6.2%.

In the first half of the year, the cumulative export of textiles and clothing increased, which was better than the overall situation of the national trade in goods and exceeded expectations. Among them, the rapid growth of textile export is mainly driven by epidemic prevention materials. Affected by the decrease of foreign demand, clothing export continued to decline, but the decline in June was significantly narrowed than that in April and may, showing signs of recovery.

Textile and clothing exports are calculated in RMB:

From January to June 2020, the cumulative export of textile and clothing was 880.07 billion yuan, an increase of 6.7%, including 521.06 billion yuan of textile exports, an increase of 32.4%, and 359.01 billion yuan of clothing exports, a decrease of 16.7%.

In June, textile and clothing exports reached 205.65 billion yuan, an increase of 22.2%, including 114.43 billion yuan of textile exports, an increase of 62.7%, and clothing exports of 91.22 billion yuan, a decrease of 6.9%.

Textile and clothing exports are calculated in US dollars:

In 2020, the total export of textiles and clothing decreased by US $512.78 billion (US $12.51 billion), with the total export of textiles and clothing decreasing by US $15.51 billion to US $12.51 billion.

In June, the export of textile and clothing was 29.03 billion US dollars, an increase of 17.8% (the export of national goods trade increased by 0.5%), of which, the export of textile and clothing was 16.16 billion US dollars, an increase of 56.7%, and the export of clothing was 12.87 billion US dollars, a decrease of 10.3%.