Textile and apparel exports hit new highs

In August this year, the national textile and apparel trade volume reached US$32.75 billion, a year-on-year increase of 7.2%. Among them, exports were US$30.53 billion, an increase of 8.9%; imports were US$2.22 billion, a decrease of 11.2%; the trade surplus for the month was US$28.31 billion, an increase of 10.8%. From January to August, the country’s cumulative trade volume of textiles and apparel was US$211.01 billion, an increase of 5.2%. Among them, exports were US$193.38 billion, an increase of 5.7%; imports were US$17.62 billion, a decrease of 0.3%; the cumulative surplus was US$175.76 billion, an increase of 17%.
In August, the country’s textile and apparel exports hit a record high in a single month and continued to maintain rapid growth. Exports in the month were US$30.53 billion, exceeding US$30 billion for two consecutive months, with an increase of 8.9% in the month, and the growth rate remained at around 9% for two consecutive months. Since the export data for the same period last year was already at a high level, this year’s growth can be defined as substantial growth under the recovery conditions of major markets, rather than restorative growth. In contrast to exports, imports continued to show negative growth. In August, imports fell by 11.2%, falling below 10% for the first time since the beginning of the year, resulting in a 0.3% decline in cumulative imports from January to August.
From the perspective of export methods, among the main trade methods, only general trade maintained growth and drove overall export growth. In August, general trade exports increased by 10.2%, processing trade exports decreased by 5.4%, and border small trade exports decreased by 12.1%. From January to August, general trade exports were US$148.2 billion, an increase of 6.4%, processing trade decreased by 0.3%, and border small-scale trade decreased by 0.8%.
​Export
The growth of textile manufactured products is outstanding
The main markets are still differentiated
In August, the country’s textile and clothing exports both achieved growth, of which clothing exports were US$20.57 billion. The export growth rate exceeded 10%, reaching 10.3%, reaching a new high. Textile exports increased by 6.1%. Among clothing, the total exports of knitted and woven garments were 3.53 billion pieces (sets), an increase of 10.4%, and the average export unit price was US$4.9/piece (set), which was the same as the same period last year. Among textiles, yarn increased by 1.7%, fabrics increased by 5.9%, and finished products increased by 7.5%. The export growth of manufactured products is more prominent, among which major categories of commodities such as home textiles and industrial products have all achieved export growth. From January to August, textile exports were US$73.38 billion, an increase of 4.6%, and clothing exports were US$120 billion, an increase of 6.4%. Among them, the cumulative exports of knitted and woven garments reached 23.48 billion pieces (sets), an increase of 9%, and the export unit price fell by 2.2%. .
The EU’s growth rate is slightly slower than in the previous period
In August, exports to the EU maintained growth. Exports for the month were US$6.63 billion, an increase of 11.3%. The growth rate was slightly lower than the previous period. Among them, the export of key commodities knitted and woven garments was 800 million pieces (sets), an increase of 10%. From January to August, cumulative exports to the EU were US$40.16 billion, an increase of 17.7%, of which the total export volume of knitted and woven garments reached 5.47 billion pieces (sets), an increase of 16.7%, and the average export unit price increased by 3.6%.
Exports to the United States reached a high point this year
Since March, exports to the United States have increased month by month. In August, exports reached US$4.98 billion, a year-on-year increase of 10.3%, setting a new high for the year. Among them, the total export of key commodities, knitted and woven garments, was 650 million pieces (sets), an increase of 9.4%, and the average export unit price increased by 2.5%. From January to August, the cumulative exports to the United States were US$29.16 billion, an increase of 7.6%, of which knitted and woven clothing exports were 4.09 billion pieces (sets), an increase of 4.2%, and the average export unit price increased by 4.2%.
Export growth to ASEAN expanded again
In August, exports to ASEAN rebounded slightly from previous months, and the growth rate expanded again. Exports that month were US$3.08 billion, an increase of 11.2%. Among them, clothing increased by 10.1% and textiles increased by 12.1%. The export volume of knitted and woven garments, the main commodities in clothing, stopped growing and showed a negative growth of 0.7%. The average unit price of exports stopped falling and rebounded, increasing by 13%. Among textiles, yarns, fabrics and finished products all achieved rapid growth. From January to August, cumulative exports to ASEAN were US$22.73 billion, an increase of 3.9%, of which textiles increased by 8.9% and clothing decreased by 3.3%. Among them, the export volume of knitted and woven garments increased by 13.3%, and the export unit price fell by 14%.
The decline in Japan expanded to 12.6%
In August, exports to Japan still showed negative growth, with exports of US$2.33 billion that month. Although exports rebounded from the previous period, they still declined year-on-year, and the decline expanded to 12.6%. Among them, the export volume of key commodities knitted and woven garments dropped by 15%. From January to August, the cumulative exports to Japan were US$15.4 billion, down 8.8%, of which the export volume of knitted and woven clothing fell by 9.5%, and the average export unit price fell by 2.7%.
​Import
Textiles saw the largest decline this year
The price difference between domestic and foreign cotton continues to expand
In August, the national textile and clothing imports were US$2.22 billion, a decrease of 11.2%, of which textiles dropped by 16.7%, the largest decline this year; clothing imports increased by 6.2%, and the growth rate was slightly lower than the previous period. In textiles, yarn imports fell by 22.7%, and fabric imports fell by 16.7%. In apparel, knitted and woven garments imported a total of 46.1 million pieces (sets), an increase of 41.8%. From January to August, the cumulative import of textiles and clothing was US$17.62 billion, down 0.3%, of which textiles fell by 5.1% and clothing increased by 20.1%. In textiles, yarn imports fell by 6.7%, and fabric imports fell by 9.3%. In apparel, knitted and woven garments imported a total of 360 million pieces (sets), an increase of 64%, and the average unit price of imports fell by 24.8%.
In August, cotton prices continued to show a downward trend. In August, the monthly average price of the China Cotton Price Index (CCIndex3128B) was 17,076 yuan, a month-on-month decrease of 165 yuan. The international cotton futures price first fell and then rose, and the monthly average transaction price continued to decline month-on-month. The monthly average price of China’s imported cotton price index was 78.73 cents/pound, down 5.87 cents from the previous month.The discounted RMB 1% tariff and sliding tax were 12,390 yuan/ton and 13,971 yuan/ton respectively, which were lower than the Chinese cotton price index of 4,686 yuan and 3,105 yuan respectively in the same period, and the price difference expanded by 749 yuan and 747 yuan respectively. In August, cotton imports dropped from the previous period. Imports in that month were 204,000 tons, a decrease of 25.9%, and the decline expanded again. The unit price of imports fell by 1.9% that month. From January to August, the country imported a total of 1.88 million tons of cotton, a decrease of 37.9%, and the average unit price of imports increased by 4.9%.
​Customs statistics of major markets
​EU imports maintain rapid growth
According to EU customs statistics, from January to July this year, the EU imported US$78.68 billion in textiles and clothing from the world, an increase of 12.2%, of which exports in July increased by 13.1%, continuing to maintain rapid growth. The cumulative import of textiles was US$16.49 billion, an increase of 12.5%, and the import of clothing was US$48.34 billion, an increase of 11.7%. Imports from China were US$27.59 billion, an increase of 10.1%, and imports from ASEAN were US$6.77 billion, an increase of 14%. The market share of Chinese products in the EU is 35.1%, that of ASEAN is 8.6%, that of Turkey is 14.2%, and that of Bangladesh is 11.6%.
The growth rate of U.S. imports from China is not as fast as that of ASEAN
According to U.S. Customs statistics, from January to July this year, U.S. textile and apparel imports amounted to US$65.99 billion, an increase of 2.6%. Among them, textile imports were US$15.51 billion, an increase of 4%, and clothing imports were US$50.48 billion, an increase of 2.2%. Imports from China were US$23.99 billion, an increase of 1.3%. Imports from ASEAN amounted to US$12.94 billion, an increase of 2.9%. The market share of Chinese products in the United States is 36.4% and that in ASEAN is 19.6%, both of which are not much different from the same period in 2013.
Japan’s share of Chinese products dropped to 66%
According to Japanese customs statistics, Japan’s textile and clothing imports continued to decline, falling by 5% in July. From January to July, Japan’s total imports of textiles and clothing were US$22.15 billion, down 2.9%, of which textile imports were US$5.23 billion, an increase of 5.9%, and clothing imports were US$16.92 billion, a decrease of 5.3%. Imports from China were US$14.62 billion, a decrease of 8.5%, while imports from ASEAN were US$4.09 billion during the same period, an increase of 15.4%. The share of Chinese products in the Japanese market dropped to 66%, a decrease of 4 percentage points from the same period in 2013. ASEAN’s share in Japan rose to 18.5%, an increase of 3 percentage points from the same period in 2013.