On October 15th, the China National Textile and Apparel Council released data indicating a decline in textile and apparel exports. In September, exports dropped by 3.8% year-on-year, while the total export value for the first three quarters of 2024 reached $222.41 billion, marking a slight increase of 0.5% compared to the previous year.
From January to September 2024, China’s cumulative textile and apparel exports were $222.41 billion, reflecting a 0.5% growth year-on-year. Of this, textile exports amounted to $104.3 billion, up by 2.9%, whereas apparel exports totaled $118.11 billion, showing a decline of 1.6%. In September alone, textile and apparel exports stood at $24.78 billion, which was a 3.8% decrease compared to the previous year and an 11.3% decline from the previous month. Specifically, textile exports were $11.25 billion, down 2.1% year-on-year and 8% month-on-month, while apparel exports reached $13.53 billion, down 5.1% year-on-year and 14% month-on-month.
Analysts note that while China’s textile and apparel exports stabilized in August with a record monthly high nearing $28 billion, adverse factors such as weak overseas demand, a downturn in global manufacturing, and the appreciation of the renminbi have contributed to the decline in September. Looking ahead to the fourth quarter, the sustainability of overseas demand recovery appears insufficient, and issues such as trade protectionism and geopolitical tensions are expected to persist, posing significant challenges to the growth of China’s textile and apparel exports as the base effect further weakens.
