General Administration Of Customs: China'S Textile And Clothing Exports Further Narrowed In The First Three Quarters Of This Year

According to today's statistics from the General Administration of Customs, in the first three quarters of this year, the national textile and clothing exports reached 223.15 billion US dollars, a year-on-year decrease of 9.5% (3.5% in RMB terms). Among them, textile exports reached USD 101.92 billion, down 10.3% year on year (4.2% in RMB); Garment exports reached US $121.23 billion, down 8.8% year on year (2.8% in RMB).

Influenced by positive factors such as the gradual digestion of some international brands' inventory and the release of new order demand, in September, China's textile and clothing exports to the world reached 26.2 billion US dollars, a year-on-year decrease of 4.8% (0.8% year-on-year increase in RMB), and the decline further narrowed by 3.6 percentage points, significantly warmer than in previous months. Among them, textile exports reached US $11.64 billion, down 2.4% year on year (up 3.4% year on year in RMB); Garment exports reached US $14.56 billion, a year-on-year decrease of 6.6% (1.1% in RMB).

At present, the global economic recovery is slow and uneven, and the momentum of economic growth is still weak. According to the World Economic Outlook updated by the International Monetary Fund (IMF) on October 10, the global economic growth is expected to be 3.0% this year and 2.9% in 2024. Compared with emerging markets and developing economies, the slowdown of economic growth in developed economies will be more obvious.

As China's economic operation continues to improve, endogenous power continues to increase, and the effectiveness of measures such as stabilizing foreign trade continues to play a role, China's textile and clothing products exports will continue to maintain development resilience and vitality. This year marks the tenth anniversary of the initiative of jointly building the "Belt and Road". The country is about to hold the third "Belt and Road" International Cooperation Summit Forum, which is conducive to closer economic and trade ties between China and countries in the "Belt and Road" circle of friends, and brings new growth opportunities for the export of China's textile and clothing foreign trade enterprises.