According to Chinese customs statistics, in the first two months of this year, the cumulative export of clothing (including clothing accessories, the same below) in China was 21.66 billion US dollars, a year-on-year decrease of 6.9%, and a significant slowdown compared to the 0.4% export growth rate of the whole year last year. It is worth mentioning that due to the early start of this year's Spring Festival, which happened to be the "late spring" last year, it is necessary to analyze the overall data of the first quarter and eliminate the comparability interference caused by the misalignment of the Spring Festival time in order to objectively evaluate the actual performance of China's clothing exports.
Clothing export situation
Small increase in quantity, significant drop in price
In the first two months, woven clothing exports amounted to 9.36 billion US dollars, a year-on-year decrease of 7.5%; The export quantity was 2.22 billion pieces, an increase of 2.4%; The export unit price decreased by 9.7%. Knitted clothing exports amounted to 9.49 billion US dollars, a decrease of 7.5%; The export quantity was 3.57 billion pieces, an increase of 3.9%; The export unit price decreased by 10.9%. Clothing accessories exports amounted to 2.04 billion US dollars, a decrease of 4.7%.
Exports to the Americas rebound, emerging markets slow down
In the first two months, China exported clothing worth 5.04 billion US dollars
In the first two months, among the major coastal export destinations, Zhejiang's clothing exports still ranked first, with a slight increase of 0.6% year-on-year; The exports of Guangdong, Jiangsu, and Fujian decreased by 16.3%, 3.8%, and 26.7% respectively. Shandong, which ranks fourth in exports, saw a year-on-year increase of 17.5%. In the central and western regions, exports from Xinjiang decreased by 35.4%, while exports from Guangxi increased significantly by 114.83%.
International market situation
Recovery of imports in developed markets
In the first two months of this year, the import of clothing in the United States increased by 11.6% year-on-year, Japan increased by 2.3%, South Korea's imports decreased by 3%, and Canada's imports increased by 9.7%. In January of this year, the EU imported 9.03 billion US dollars, an increase of 25.2%; The UK imported 1.72 billion US dollars, an increase of 2.5%.
Indonesia's exports are growing rapidly
In January this year, Vietnam's export of clothing slightly increased by 0.5%, Türkiye's export decreased by 2.2%, and Indonesia's export increased by 5.1%.
Trend outlook
The current trade environment between China and the United States is showing a significant upgrading trend. Starting from April 10th, the United States has implemented a total of 145% high tariffs on Chinese goods imported to the United States, and plans to cancel the "small tax exemption" preferential treatment for goods below $800 on May 2nd, while imposing a 120% tariff. As the largest single market for Chinese clothing exports, the United States accounts for over 20% of our clothing exports. The trade war initiated by the United States has had a destructive impact on the development of clothing trade between China and the United States.
Faced with the dual pressure of high tariffs imposed by the US and shrinking core markets, Chinese companies are actively implementing market diversification strategies, focusing on developing emerging potential markets, and striving to expand the domestic market; Secondly, we will vigorously promote the globalization of supply chain configuration and establish capacity backup systems in potential investment areas; The third is to accelerate the transformation towards intelligence, greenness, and digitization, and strive to enhance our position in the global value chain. The Chinese clothing export industry is accelerating the upgrading of its industrial chain with the determination to fight to the death, and making every