Textile and apparel exports to Hong Kong rebound

After a brief fluctuation in March, textile and apparel exports increased again in April, with a double-digit increase. Preliminary analysis shows that the current main factors promoting export growth are the slow recovery of external demand, the narrowing of the price difference between domestic and foreign cotton in the first quarter, the rapid growth of exports to emerging markets, and the low year-on-year base (exports fell by 5% in April last year). However, there are also some other factors that promote export growth. factor. From a market perspective, sales to the EU and the United States increased by 2.8% and 1.3% respectively that month, which was still within a reasonable range; sales to Hong Kong soared by 45%, which was abnormal. Although Hong Kong is still the main market for China’s textile and apparel exports, China’s exports to Hong Kong have shown a slow growth trend in recent years. The average growth rate in the five years from 2008 to 2012 was only 0.45%. Hong Kong’s share of China’s textile and apparel exports has also declined. It dropped from 8.6% in 2008 to 6.4% in 2012. Since 2013, the Hong Kong market has become active again, and exports of goods trade to Hong Kong have grown rapidly. From January to April, the cumulative exports of national goods trade to Hong Kong increased by nearly 70%, and the cumulative exports of textiles and clothing increased by 28%.