There’s an improvement in the outbound shipment of garments, with a significant reduction in the decline of exports. Garment exports witnessed a steep fall of 14.7 per cent during the first two months of the current year.
During January-March 2023, garment and clothing accessories exports stood at $35.160 billion, which was 1.3 per cent lower than the same period of last year. The shipment was valued at $35.614 billion in the period under review. China's textile exports, including yarn, fabrics, and others, registered a fall of 12.1 per cent year-on-year (YoY) to reach $32.069 billion in the first three months of 2023 against the exports of $36.480 billion in January-March 2022.
The imports of textile yarn and fabric products by China also declined by 25.9 per cent to $2.403 billion in January-March 2023 against the shipment of $3.242 billion during the corresponding period of last year.
China had exported textiles, apparel, and clothing accessories worth $323.344 billion in 2022, registering a mild growth of 2.53 per cent compared to the previous year. Last year, the country exported garment and clothing accessories worth $175.396 billion and textile including yarn, fabrics, and others worth $145.079 billion, as per the data.
Fibre2Fashion News Desk (KUL)