As a major garment exporter, China exports more than us $100 billion of garments every year, far more than its imports. However, with the transformation of China’s economic structure in recent years, the garment industry has gradually entered the mature stage, and product categories have gradually enriched, China’s garment import and export surplus is gradually shrinking.
From 2014 to 2019, China’s garment export scale is gradually declining. According to statistics from the General Administration of Customs, in 2018, the export value of China’s apparel and accessories was US $157.812 billion (converted from the average dollar-RENMINBI exchange rate of the corresponding month), down 0.68% year on year. From January to May 2019, the export value of China’s clothing and accessories was US $51.429 billion, down 7.28% year-on-year.
From 2014 to 2019, China’s garment imports grew rapidly. According to statistics from the General Administration of Customs, in 2018, the import value of Chinese clothing and accessories was 8.261 billion US dollars, up 14.80 percent year on year. From January to April 2019, the import value of Chinese clothing and accessories was US $2.715 billion, up 11.41% year-on-year.
China’s garment industry is mainly exported to the EU, the US, ASEAN and Japan. In 2018, China’s garment exports to the EU reached 33.334 billion US dollars, followed by the US and Japan with 32.153 billion US dollars and 15.539 billion US dollars, respectively. From the trend of recent years, China’s garment exports to the United States and Japan have resumed growth, while the decline in exports to the European Union has narrowed, and China’s exports to some countries along the “One Belt And One Road” line have enjoyed a good growth. In 2018, China’s exports to Vietnam and Myanmar increased by more than 40 percent, while exports to Russia, Hong Kong and the European Union shrank by 11.17 percent, 4.38 percent and 0.79 percent, respectively.
From the perspective of export products, according to prospective statistics, among the 255 kinds of clothing exported by China in 2018, the total export value of the top 10 products was more than 48.2 billion US dollars, accounting for about 30% of the total export value. Among them, “chemical fiber knitted crochet pullovers, cardigans, vest, etc.” has been the most exported product, with the export value of this product reaching 10.270 billion US dollars by 2018.
From January to April 2019, China’s top 10 garment industry exports totaled 11.071 billion U.S. dollars
Post time: Sep-04-2020