Analysis of China's apparel exports 2022.01-08

     Analysis of China's apparel exports 2022.01-08

According to statistics, from January to August this year, China's clothing exports (including clothing accessories, the same below) totaled US $118.38 billion, up 11.9% year on year. In August, clothing exports were $18.49 bn, up just 5.1% year-on-year, a marked slowdown from July's 18.5 per cent growth.

1. 2022.01-08, the export volume and price of the knitted clothing increased, and the price of woven clothing increased greatly

2022.01-08, the export of the knitted apparel totaled US $53.45 billion, an increase of 17.9% year-on-year, with the export volume of 14.88 billion pieces, an increase of 7.5% year-on-year, and the export price of knitted apparel increased by 9.8% year-on-year. The export of woven apparel was US $49.92 billion, up 18% year-on-year, with the export volume of 8.73 billion pieces, down 1.1% year-on-year, and the export price increased by 19.3% . Exports of clothing accessories totaled US $10.91 billion, up 22.4 percent year-on-year. The main reasons for the increase in prices are higher raw material prices, higher value-added apparel exports, low value-added product orders transfer, cross-border e-commerce export slowdown.

In August, exports of cotton knitted and woven garments fell by 8.5% and 5.8% respectively, while exports of chemical fibre knitted and woven garments increased by 7.5% and 19.3% respectively. In August, exports of cotton knitted and woven apparel to the United States fell 26.5 percent and 19.7 percent, respectively, while exports of synthetic fiber knitted and woven apparel to the United States rose 26.9 percent and 35.4 percent, respectively.

2. The export of outdoor and commuter clothing increased rapidly

Outdoor, sports, social, commuting clothing exports to maintain rapid growth. In the first eight months of this year, exports of overcoats and winter jackets rose by 39.9% year on year, while exports of dresses, shirts, sweaters and sportswear/swimwear rose by 20.6% , 38.3% , 24.8% and 23.1% respectively. Scarf, gloves, socks and other clothing accessories export growth of more than 20% . Home clothing exports due to a large base last year, and this year demand reduction, growth slowed significantly, underwear, pajamas, bras export growth rate of about 10% .

3. Zhejiang led the way in exports, while Guangdong saw a significant drop

From 2022.01 to 2022.08, Zhejiang's apparel exports totaled US $24.38 billion, up 25.4% year-on-year, far exceeding the national average growth rate and accounting for more than 20% of the country's apparel exports. Guangdong came in second, with a 6.6 per cent fall in exports, which widened from the previous month. Jiangsu, Shandong, Fujian and Shanghai ranked third to sixth, with year-on-year increases of 12.3%, 18.5%, 1.6% and 11.5% respectively. Xinjiang, Jiangxi and Hunan saw growth of 81.1%, 49.1% and 63.1% year-on-year respectively, while Hebei, Guangxi and Shanxi saw sharp declines of about 40 per cent.

　From the August clothing export situation, the main export provinces and cities to slow down or decline significantly. Zhejiang's exports grew just 3.8 per cent in August, a sharp slowdown from the 34.6 per cent growth recorded last month. Export growth in Shandong and Shanghai also slowed from the previous month, rising 2.1 per cent and 6.5 per cent respectively. Monthly exports from Jiangsu, Guangdong and Fujian fell by 0.7 per cent, 16.9 per cent and 14.8 per cent respectively. Xinjiang's exports jumped 123.8 per cent year-on-year in a single month, surpassing those of Fujian and Shanghai.

4.Exports from major suppliers grew strongly

In the january-june period, Vietnam's apparel exports totaled US $17.38 billion, up 13.3% year-on-year, including a 14.7 percent increase in exports to the United States. In the january-july period, Turkish apparel exports totaled US $11.55 billion, up 12.6% year-on-year, including a 15.9% increase in exports to the European Union. 1. In July, the world's major markets imported $25.3 billion worth of apparel from Bangladesh, up 43.2% year-on-year, while imports from the European Union, the United States and the United Kingdom increased 42.8%, 53.8% and 51.7%, respectively, year-on-year.

From January to July, Vietnam and India's market share in the United States increased by 2.1.5 percentage points year-on-year, while Bangladesh's market share in the United States and the European Union increased by 2.1 and 4.2 percentage points year-on-year, respectively.

The possibility of a turning point in clothing exports in the fourth quarter of 2009 has increased as the risk of a global recession increases, high inflation leads to increased de-stocking pressure in Europe and the US, and a high export base in the fourth quarter of 2009. Looking 2023, Chinese clothing exports will undoubtedly face more severe challenges.

Source: China Clothing Association, 43er.com

                                                                                                                                                                                          Reprint and translator: Lisa