Chinese textile exports begin their return to growth

After a fall in textile and clothing exports last year, China saw a modest rise of 1.4% in the first five months of the year. The country exported goods worth 106.7 billion euros, according to the China Textile Industry Sub-Council (CCPIT-Tex).

Textile exports totalled 52.6 billion euros, up 2.6% on the same period the previous year. In the clothing sector, exports remained stable at +0.2%, with 54.1 billion euros worth of products shipped.

May could mark a breakthrough. While exports rose by just 0.8% over the January-April period, exports of textiles and clothing rose by 4.7% in May. This acceleration particularly affected textiles (+8.1%) and, to a lesser extent, clothing (+1.6%).

“Since the second quarter, the situation for Chinese textile and clothing exports has improved compared with the first quarter, but the pressure from companies’ foreign trade remains strong and the order situation has not improved significantly,” says CCPIT-tex. “This rebound in exports may be due to a shortage. It remains to be seen whether it will form part of a continuing upward trend.”

The Chinese Textile Authority points out that, since the start of the year, the situation on the international retail market has remained stable overall. But behind this stability, markets in most developed countries have only been able to maintain weak growth, leaving some doubt as to whether consumption will pick up again soon.

Last year, China exported the equivalent of 269.4 billion euros worth of textiles and clothing. After exchange rate effects, these were falls of 8.1% and 2.9% respectively, caused mainly by inflation, which is holding back Western consumption, but also by the effects of the zero-Covid policy, which was finally lifted at the start of the year.