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As a big clothing export country, China’s annual clothing export amount exceeds 100 billion US dollars, which is far greater than the clothing import amount. However, with the transformation of China’s economic structure in recent years, the clothing industry has gradually bought into the mature period, and the types of films are gradually enriched, China’s clothing import and export surplus is gradually narrowing. In 2018, the export value of China’s clothing and accessories was 157.812 billion US dollars, and the import amount was 8.261 billion US dollars.

China is a big clothing export country, but its import and export surplus is gradually shrinking

As a big clothing export country, China’s annual clothing export amount exceeds 100 billion US dollars, which is far greater than the clothing import amount. However, with the transformation of China’s economic structure in recent years, the clothing industry has gradually entered a mature period. After the variety of products is gradually enriched, China’s clothing import and export surplus is gradually shrinking.

From 2014 to 2020, China’s clothing export scale is gradually declining. According to the statistics of the General Administration of customs, in 2018, the export amount of China’s clothing and accessories was 157.812 billion US dollars (converted by the average exchange rate of the corresponding month’s US dollar to RMB), a year-on-year decrease of 0.68%; from January to May of 2020, the export amount of China’s clothing and accessories was US $51.429 billion, a year-on-year decrease of 7.28%.

From 2014 to 2020, the scale of China’s clothing import has increased rapidly. According to the statistics of the General Administration of customs, in 2018, the import amount of China’s clothing and clothing accessories was 8.261 billion US dollars, an increase of 14.80%; from January to April of 2020, the import amount of Chinese clothing and clothing accessories was 2.715 billion US dollars, with a year-on-year increase of 11.41%.

The main export destinations of China’s clothing industry are the European Union, the United States, ASEAN and Japan. In 2018, China’s export amount of clothing to the EU reached 33.334 billion US dollars, followed by the United States and Japan, with us $32.153 billion and US $15.539 billion respectively. One belt, one road, is the main export area. The trend of recent years is that China’s clothing exports to the United States and Japan have resumed growth, narrowing the EU export decline, and increasing the export volume of some countries along the belt and road. In 2018, China’s exports to Vietnam and Myanmar increased by more than 40%, while exports to Russia, Hong Kong, China and the European Union shrank by 11.17%, 4.38% and 0.79% respectively.


Post time: Oct-10-2020