Textiles and Garments Exports Decline in August

The data released by the General Administration of Customs recently showed that in August, the export of textile and clothing was US$25.451 billion, which was a decrease of 2.51% from the previous month in July and a year-on-year increase of 26.4%. Among them, textile exports reached 8.363 billion U.S. dollars, down 3.90% month-on-month, and exports of apparel and accessories came to 17.088 billion U.S. dollars, a decrease of 1.19% from the previous month.

From January to August, China’s textile and apparel exports totaled 163.163 billion U.S. dollars, a year-on-year increase of 25.72%, a slight increase of 0.12 percentage points from 25.60% in January-July. Among them, textile exports reached US$62.995 billion, which represented a year-on-year increase of 27.18%; exports of apparel and accessories reached US$100.205 billion, which represented a year-on-year increase of 24.82%.

In fact, after entering the second half of the year, domestic textile and clothing exports did not fall back as previously expected. In July, exports even hit record highs, and August's export data still maintained double-digit growth. However, the industry pointed out that the current increase in textile and garment export prices is mainly due to price increase, and the actual increase in the number of real exports reflects only single digits, and it is in the context of growing concerns about the economic outlook of the peripheral economies and the clear expectation of renminbi appreciation. Future export expectations are not optimistic.

According to Shi Hongmei, Orient Securities, under the premise of labor costs and raw material prices fluctuating, on the micro level, some textile and garment companies’ exports are not as optimistic as the data reflects, plus the economic recession in Europe and the United States. * Appreciation and other reasons, many factors are affecting the company's order volume and profitability, only companies with large scale, high value-added products, and strong technical strength can win the game and win more market share.

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