The China Chamber of Commerce for Import and Export of Textiles disclosed on August 7 that my country’s textile and apparel exports continued to rise in July, driven by the expansion of foreign demand and rising prices. Calculated in U.S. dollars, my country’s textile and apparel exports continued to grow in July on the basis of the previous month. Among them, apparel exports increased significantly, with year-on-year and month-on-month increases of 18.5% and 8.8% respectively.
Some institutions and cotton-related companies said that my country’s cotton textile and apparel exports grew faster than expected in July, but geopolitical events such as the Russia-Ukraine conflict have had a negative impact on the global economy, high overseas inflation has inhibited the consumption of clothing products, and Xinjiang Under the negative influence of the cotton ban and other negative effects, it is expected that textile and clothing export data in August/September may face downward pressure, especially cotton textiles and cotton clothing.
Why did my country’s textile and apparel export growth remain strong in July after the Xinjiang cotton ban took effect? Industry analysis includes the following factors:
On the one hand, although the export of cotton textiles and apparel in July was greatly affected by traceability orders and non-Xinjiang cotton orders, the export of chemical fiber, woolen and blended products has been effectively controlled with the effective control of the epidemic in China, the depreciation of the RMB exchange rate, and the “double-use” of developed countries such as Europe and the United States. “Festival” (Christmas, Easter) orders are increasing; on the other hand, although the United States has banned the import of any products related to Xinjiang since June 21, proving the origin is a tricky job, even if Genetic traceability testing technology is mature, but the long testing time and high cost are a challenge for the U.S. Customs and Border Protection and importers. Therefore, so far, genetic testing has not been implemented, and China has not yet exported to the United States directly or indirectly through Southeast Asian countries. Cotton textiles and clothing were seized and destroyed (no importers were punished accordingly), and business confidence has been restored.
In addition, China’s textile and apparel exports to ASEAN, “Belt and Road” countries, Latin America, RCEP member countries and other countries have shown strong growth momentum, making up for the decline in export growth to the United States and the European Union.
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