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Overview of fabric import and export in China from January to August 2023

Time : 2023-10-09 Hits : 34

According to China Customs statistics, in August 2023, the total import and export of fabrics in China was 5.78 billion US dollars, down 6.9% year-on-year. Among them, the export was 5.55 billion US dollars, down 6.1% year-on-year; Imports were $230 million, down 21.3 percent year-on-year. In August, exports picked up under domestic economic policy, base slowdown, exchange rate depreciation and other factors, and the decline in fabric exports in the month was slightly narrower than in the previous period.

Due to political and supply chain security considerations, the United States and Europe have accelerated the "three-shore diversion", especially the speed of the friendly shore and nearshore outsourcing, and accelerated the "de-Sinification", which not only affects the terminal clothing products, but also further reduces the export of textile intermediate products. In order to prevent the export "transfer effect" caused by China's establishment of factories in Southeast Asia, the United States has also reduced orders to Vietnam and other Southeast Asian regions, Vietnam's exports to the United States also fell sharply, from January to July, the cumulative decline of US imports from Vietnam by 25.3%, more than the average decline of US imports from the world (22.7%). As a result, my exports of intermediate goods such as yarns and fabrics to Southeast Asia have also slowed down, with exports falling 15.5% from January to August.


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