As pandemic takes edge off, China’s apparel import surges by 48.89% in June ’20

 

According to the General Administration of Customs of China (GACC), China has noted 48.83 per cent monthly surge in its global apparel import in the month of June this year, while the Y-o-Y growth in the first half of 2020 is 2 per cent.

An analysis done by Apparel Resources, by compiling GACC’s data, says, the apparel import of China valued at US $ 671.15 million in June ’20 which is far better value than that China earned in May ’20 – US $ 450.93 million.

The surge in import clearly states that pandemic woes have started taking edge off and the apparel market in China is bouncing back with more customers stepping up in the stores.

The apparel retail sales in the country, according to National Bureau of Statistics, China, have also improved 4.06 per cent in June ’20 over May ’20. Chinese apparel retail sales clocked RMB 105.90 billion (US $ 15.12 billion) in June ’20, while the sales figure in May ’20 valued at RMB 101.80 billion (US $ 14.53 billion).

However, apparel retail witnessed a marginal decline of 0.1 per cent in its sales on Y-o-Y in June ’20.

This monthly rebound of retail sales in China is exactly what’s reflecting in its import and the same is expected to continue even in July ’20 and subsequent months.

As far as the first half of 2020 (January to June) is concerned, China’s import of garments valued at US $ 3.69 billion, which is a surge of 2 per cent from the same period of 2019. China’s retail sector recovery pins hope for the exporting destinations which are facing heat of pandemic outbreak in USA and EU – two biggest apparel retail markets.

 

 

 

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