January-February 2019 China's textile and clothing exports plummeted

Release time:

2019-03-11

According to statistics, from January to February 2019, China's textile and clothing exports "exceeded expectations" and fell sharply, with textile and clothing exports of 38.155 billion billion US dollars, down 11.61 percent from the same period last year. Compared with the average annual growth rate, it has fallen below the lowest point of -10.5 percent set during the financial crisis in 2009. Of course, textile and clothing exports throughout the year are generally low before and high after. Among them, textile exports were 17.38 billion US dollars, down 7.82 per cent year-on-year, and exports of clothing and accessories were 20.775 billion US dollars, down 14.55 per cent year-on-year.

In RMB terms, China's textile and clothing exports totaled 262.47 billion billion yuan in January-February 2019, down 7.15 percent from the same period last year. In January this year, the export volume of spinning and clothing reached a new high since September last year, while in February, the export volume of spinning and clothing was cut in half, reaching a new low since February 2017. We believe that the main reason for such ups and downs is the impact of the "wrong month" effect of the Spring Festival. At the same time, enterprises once had the motivation to "grab exports" to avoid the risk of tariffs imposed by China, the United States and Canada. Therefore, the first two months of the data did not reflect the real export. The just-concluded 29th China Fair sold 2.3 billion US dollars, basically the same as in 2018, indicating that with the expected improvement of Sino-US trade negotiations, exports are reversing the downward trend and stabilizing; of course, in the context of the global economic and trade slowdown, China's textile and apparel exports will continue to be under pressure. Therefore, it is more reasonable to judge the trend of the whole year by observing the total trade volume and trade growth rate from January to March.

In addition, in January 2019, China's footwear exports totaled US $5.164 billion billion, up 9.4 percent year-on-year and 15.5 percent year-on-year.

In the first two months of this year, China's foreign trade imports and exports increased slightly by 0.7

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