Foreign news: China’s clothing exports continued to decline in January and February
China’s apparel exports continued to decline in the first two months of 2023 after falling sharply in the last quarter of 2022. From January to February this year, China’s clothing exports fell 14.7% in US dollars to US$21.68 billion.
After soaring in the first half of 2022, China’s apparel exports began to decline slightly in September, with double-digit declines in October and November. December fell 8.8% year-on-year, mainly due to production Soaring costs and the negative impact of the pandemic.
For the whole year of 2022, China’s clothing exports increased by 7.1% year-on-year, of which knitted clothing increased by 5.2% and woven clothing increased by 9.4%. Export volumes of knitted apparel fell by 21.9% in the fourth quarter of 2022, partly due to a 41% decline in sales in the U.S. market. During the same period, exports of woven clothing fell by 4.2%, and exports to the United States fell by 27.7%.
In the fourth quarter of last year, China’s total apparel exports fell by 15.4%, and the U.S. market fell by 36.4%. However, China’s exports to Vietnam surged 116% in dollar terms, indicating a curve in Chinese apparel exports after the United States imposed more restrictions. In addition, China’s exports to Kyrgyzstan stopped growing significantly after maritime transportation resumed and transportation costs dropped significantly.
Compared with the level before the outbreak of the new coronavirus pneumonia in 2019, China’s clothing export volume dropped by 3% in 2022 and increased by 14% in U.S. dollar terms. U.S. dollar unit prices rose 3% last quarter after rising 14% in the same period last year. In the last quarter of 2022, the unit price of exports to the United States increased by 18.6% year-on-year.
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