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Clothing exports grew faster in the first quarter and increased their share, but the growth rate fell back

Categories:Company News
Author:David Deng
Origin:Suze Textile $ Clothing Co., Ltd.
Time of issue:2021-04-16 10:06
Views:

(Summary description)

Clothing exports grew faster in the first quarter and increased their share, but the growth rate fell back

(Summary description)

Categories:Company News
Author:David Deng
Origin:Suze Textile $ Clothing Co., Ltd.
Time of issue:2021-04-16 10:06
Views:

Information

According to China Customs Statistics News, China's textile and clothing exports in the first quarter of this year amounted to $65.1 billion, an increase of 43.8 percent over the same period in 2020 and 15.6 percent over the same period in 2019. This shows that the competitive advantage of China's textile and clothing industry chain provides a strong support for the sustained and stable operation of foreign trade. Clothing exports present four main features: Clothing exports are still growing faster than in the same period of 2019 Affected by the epidemic, China's export base in the first quarter of last year is on the low side, so the large increase in exports in the first quarter of this year is expected. But even compared with the same period in 2019, China's clothing exports are still growing. In the first quarter of this year, China's clothing exports were $33.29 billion, up 47.7 percent from the same period last year and 13.1 percent from the same period in 2019.

The main reason is that exports fell 21 percent in the same period last year, with a low base; second, demand for major markets such as the United States recovered faster; and third, domestic supply around the region could not recover in place, pulling our exports up faster. Clothing exports are growing faster than textiles Since March last year, China's textile industry chain has recovered rapidly, mask exports have begun to start, raising last year's textile export base, so in the first quarter of this year, our textile exports increased by 40.3%, lower than the 43.8% increase in clothing exports. In particular, in March this year, our textile exports grew only 8.4 percent that month, far lower than the 42.1 percent increase in clothing exports that month. Due to the decrease of international demand for epidemic prevention materials, the export of masks is decreasing month by month. It is expected that in the second quarter, the export of textiles is not strong enough, and the possibility of a year-on-year decline is greater.

China's mainstream market share in the U.S. and Japan has increased In the first two months of this year, U.S. imports of clothing from the world grew by only 2.8 percent, but imports from China increased significantly by 35.3 percent. China's market share in the United States was 29.8 percent, a year-on-year increase of nearly seven percentage points. In the same period, Japan's imports of clothing from the world increased only 8.4 percent, but imports from China increased significantly by 22.3 percent, and China's market share in Japan was 55.2 percent, up 6 percentage points from the same period last year. Clothing exports rose in March, the trend is not optimistic In March of this year, Our clothing exports are $9.25 billion, Despite an increase of 42.1 per cent over March 2020, But only 6.8% more than March 2019, The growth rate was much lower than in the previous two months.

The first two months of the year, U.S. and Japanese clothing retail sales fell 11 percent and 18 percent respectively, Clothing retail sales in the EU fell 30% in January from a year earlier, This shows that the global economic recovery remains fragile, Europe and emerging economies are affected by the epidemic, Demand remains low. As optional consumer goods, it will take time for international demand to return to normal levels in previous years. With the gradual repair of textile and garment manufacturing capacity in developing economies, the substitution role of garment industry in China to global production in the previous period is weakening, and the phenomenon of "order return" is unsustainable. In the face of the export situation in the second quarter and even the second half of the year, the industry needs to remain calm, recognize the situation, and not be blindly optimistic and relaxed.

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Next: Operation of garment industry in January-February 2021

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