Introduction: According to customs data, textile and clothing exports continued to grow in December 2020, with the growth rate of textile exports being particularly obvious. Judging from the full-year data, textile exports will grow significantly in 2020, and overall apparel export data will decline compared with 2019.
Figure 1 Domestic textile export data in 2020
Source: General Administration of Customs
Figure 2 Domestic apparel export data in 2020
Source: General Administration of Customs
In December 2020, due to the emergence of new coronavirus mutant strains overseas and The overall overseas epidemic situation is not optimistic. The market demand for anti-epidemic materials has rebounded again, and textile exports increased significantly in December. According to customs data: In December, textile and clothing exports were US$26.2 billion, a month-on-month increase of 6.5%, and a year-on-year increase of 7.2%. Among them, textile exports were US$12.29 billion, a month-on-month increase of 2.16%, a year-on-year increase of 12.7%, and clothing exports were US$13.91 billion, a month-on-month increase of 1.083%. %, a year-on-year increase of 2.7%.
Figure 3 Domestic textile and apparel export data from 2016 to 2020
Source: General Administration of Customs
From the perspective of full-year data, In 2020, with the strong support of the “stabilizing foreign trade” policy, China’s textiles and apparel withstood the huge impact of the epidemic, and exports achieved rapid growth throughout the year, becoming an important driving force for the growth of national trade in goods. From January to December 2020, the cumulative exports of textiles and clothing were US$291.21 billion, an increase of 9.5%, of which textile exports were US$153.83 billion, an increase of 29.2%, and clothing exports were US$137.38 billion, a decrease of 6.4%.
In the later stage, many countries have begun to start COVID-19 vaccines, and demand may improve further in the later stage. Moreover, the conclusion of the RCER agreement will further benefit the polyester industry and end-use textile and apparel industries. Industrial exports, but the high shipping prices in the short term and the shortage of containers will still restrict the later export market situation to a certain extent.
Figure 4 China Export Container Freight Index (CCFI)
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