China’s apparel export grows 46% in June ’20; indicates global market rebounding

 

The latest released statistics of General Administration of Customs of China say the country has seen improved exports in apparel during June ’20 over May ’20, while textile exports have fallen significantly on monthly basis.

According to the compilation done by Apparel Resources, the apparel and accessories exports of China valued at US $ 12.87 billion in June ’20 as compared to US $ 8.90 billion in May ’20, which is a huge surge of 44.61 per cent.

Out of this value, apparels contributed US $ 11.15 billion in June ’20, noting 46.15 per cent growth over May ’20. However, cumulatively from Jan.-Jun. ’20 period, the exports of apparels declined by 9.80 per cent to clock US $ 44.52 billion.

Textile exports have registered a fall of 21.80 per cent in June ’20 over May ’20 and accommodated US $ 16.15 billion as against US $ 20.65 billion in the previous month.

The fall was majorly contributed by less shipment of textile products (medical face masks and other PPE) in June ’20 than May ’20, while textile yarns and textile fabrics noted growth on monthly note.

China shipped US $ 11.84 billion worth of textile products in the 6th month of 2020 which is 29.94 per cent less than what it had exported in May ’20. Despite falling massively in June ’20, China saw a good surge in exports of textile products in half yearly period (Jan.-Jun. ’20) by 202 per cent and clocked US $ 48.85 billion.

On the other hand, textile yarn exports from China clocked US $ 600.59 million in June ’20, an increase of 15.32 per cent over May ’20.

Textile fabrics too noted a substantial surge of 15.52 per cent in June over May this year and tapped US $ 3.72 billion.

The total textile exports of China during Jan.-Jun. ’20 period rose by 58.50 per cent to US $ 74.10 billion and that’s commendable at the crisis time created by COVID-19.

 

 

 

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