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.