In the first three quarters, my country's foreign trade was stable and positive, and the export of textiles and clothing increased by 4.6 year-on-year.

Release time:

2018-10-24

Recently, the General Administration of Customs released the latest data showing that my country's foreign trade achieved rapid growth in the first three quarters, the structure continued to be optimized, the power conversion accelerated, and the quality and efficiency further improved. The overall steady and positive trend of import and export has been further consolidated, laying the foundation for the high-quality development of foreign trade.

Judging from the overall foreign trade situation of the textile and clothing industry, in terms of US dollars, in September this year, China's textile and clothing exports were 26.608 billion US dollars. Among them, textile yarn, fabrics and products exports 10.6 billion U.S. dollars, clothing accessories 16.008 billion U.S. dollars. In the first three quarters, the total export of textiles and clothing was 207.77 billion billion US dollars, a cumulative year-on-year increase of 4.6 percent, and continued to maintain steady growth. Among them, the export of textiles in the first three quarters was 89.29 billion US dollars, a cumulative year-on-year increase of 10.5; the export of clothing was 118.48 billion US dollars, a cumulative year-on-year increase of 0.6.

In terms of RMB, China's textile and clothing exports totaled 1350.34 billion billion yuan in the first three quarters, down 0.6 percent from the same period last year. Among them, textile exports in the first three quarters were 579.34 billion billion yuan, up 4.7 percent from the same period last year, while clothing exports totaled 771 billion billion yuan, down 4.2 percent from the same period last year. In September, the total export of textiles and clothing was 181.95 billion yuan, including 72.45 billion yuan of textiles and 109.5 billion yuan of clothing.

When introducing the operation of my country's foreign trade in the first three quarters, the person in charge of the Foreign Trade Department of the Ministry of Commerce pointed out that the value of my country's foreign trade import and export increased quarter by quarter in the first three quarters of 2018, and the year-on-year growth rate in the third quarter was significantly higher. The import and export growth of some countries along the "Belt and Road" is better. At the same time, mechanical and electrical products, labor-intensive products are still the main export. In the first three quarters of 2018, China's exports of seven major categories of labor-intensive products, such as clothing and toys, totaled 2.29 trillion billion yuan, down 0.8 percent from the same period last year, accounting for 19.3 percent of the total export value.

A spokesman for the General Administration of Customs said that since the beginning of this year, China's economy has maintained an overall stable and stable development trend, and a number of economic indicators have been generally stable. Although the international economic and trade situation is facing uncertain and unstable factors, the overall global trade in goods has maintained growth. Under the combined effect of various factors at home and abroad, my country's imports and exports continued to maintain a steady and progressive development momentum in the first three quarters.

Nevertheless, export enterprises still need to pay attention to and prevent export risk factors. The 2018 National Risk Analysis Report recently released by the China Export Credit Insurance Corporation suggests that since the trade friction between China and the United States, U.S. buyers have abandoned their goods due to their inability to pay their own import tariffs, or due to rising costs leading to poor downstream sales, and thus maliciously defaulting on payments has increased. In terms of overseas investment, after the implementation of the "Foreign Investment Risk Review Modernization Act" in the United States, Chinese companies will face broader investment reviews, longer review cycles and stricter reporting systems. This will make Chinese enterprises to invest in the United States face greater uncertainty. At present, the differences between China and the United States are still concentrated in the field of trade, but the risk signals in the field of investment are gradually emerging.

Sun Ruizhe made the "Work Report of the Fourth Executive Director Enlargement Meeting of the Fourth China Textile Industry Federation"

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