Affected by the continued high inflation and rising inventories in major export markets such as the United States and Europe, China’s textile and apparel exports suspended their early rapid growth momentum in August, with year-on-year growth slowing down and month-on-month declines. According to the latest data released by the General Administration of Customs on September 7, in U.S. dollars, textile and clothing exports increased by only 2.9% year-on-year in August and fell 6.8% month-on-month. Cumulative exports from January to August still maintained a rapid growth of 11%.
Textile and clothing exports in RMB: From January to August 2022, the cumulative exports of textiles and clothing were 1.43779 billion yuan, an increase of 11.9% over the same period last year (the same below), of which textile exports were 665.6 billion yuan, an increase of 10.8%, and clothing exports were 772.19 billion yuan. An increase of 12.8%.
In August, textile and clothing exports were 208.99 billion yuan, an increase of 7.3%, and a month-on-month decrease of 6.8%. Among them, textile exports were 84.27 billion yuan, an increase of 4.1%, and a month-on-month decrease of 8%. Clothing exports were 124.72 billion yuan, an increase of 9.6%, and a month-on-month decrease of 5.9%.
Textile and clothing exports in US dollars: From January to August 2022, the cumulative exports of textiles and clothing were US$220.3 billion, an increase of 11%, of which textile exports were US$102.27 billion, an increase of 10.2%, and clothing exports were US$118.03 billion, an increase of 11.6%.
In August, textile and clothing exports were US$30.976 billion, an increase of 2.9%, and a month-on-month decrease of 6.8%. Among them, textile exports were US$12.49 billion, a decrease of 0.2%, and a month-on-month decrease of 8%. Clothing exports were US$18.486 billion, an increase of 5.1%, and a month-on-month decrease of 5.9%.
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