China’s textile and garment exports climb to a new high

Encouraged and driven by the country’s active and effective prevention and control measures and the policies of stabilizing the economy and exports, in the past year, China’s textile and garment industry has overcome many difficulties, strengthened the upstream and downstream coordination of the industrial chain and supply chain, seized the rare overseas order window and order return opportunity, adhered to seeking progress while maintaining stability, and continued to promote the steady and good growth of textile and garment exports. In 2021, China’s textile and garment exports increased more than expected, with the cumulative export volume exceeding US $300 billion for the first time, a record high; The export increment exceeded US $20 billion for two consecutive years, and the export growth rate reached 9% for two consecutive years, realizing a good start in the “14th five year plan” period of textile and garment foreign trade. In 2022, the difficulties such as high raw material prices, rising freight and rising labor costs have not been alleviated, and China’s textile and garment exports are facing many uncertain factors. Zhu Yuxing, deputy director of the Information Department of China Textile Import and Export Chamber of Commerce, believes that at present, if the epidemic does not turn significantly, it is expected that China’s textile and garment exports will show negative growth under the high base effect in the first quarter. After that, with the implementation of domestic favorable policies and the role of RCEP agreement, the export situation will gradually improve.
According to the data, in 2021, the import and export trade volume of textiles and clothing reached 351.18 billion US dollars, with a year-on-year increase of 9.8% and an average increase of 8.9% in two years, of which the export was 322.71 billion US dollars, with an increase of 9% and an average increase of 9% in two years; Imports reached 28.47 billion US dollars, an increase of 20.5%, with an average increase of 7.5% in the two years; The accumulated trade surplus was 294.24 billion US dollars, an increase of 8%, with an average growth of 9.2% in the two years.

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Post time: Feb-11-2022