According to the latest data released by the General Administration of Customs on July 13th, in US dollars, China’s textile and clothing exports in the first half of the year totaled 142.68 billion US dollars, a year-on-year decrease of 8.3%, and the overall performance is not as good as the national goods trade exports. In June, textile and clothing exports experienced a double-digit decline again year-on-year after May, with a decrease of 14.3%. In the current situation of shrinking demand and order outflow in key markets, textile and clothing exports are facing a difficult climbing stage.
Against the backdrop of the continued conflict between Russia-Ukraine conflict, the tightening of the international financial environment, the weakening of terminal demand in major developed economies in the United States and Europe, stubborn inflation and other risk factors that have led to a sharp slowdown in global economic growth, and more sluggish trade improvement, what is the performance of other major textile and clothing exporters?
The export situation of textile and clothing in multiple countries is severe
Vietnam
Textile and clothing exports have significantly decreased
In the first half of 2023, Vietnam’s clothing exports experienced a significant decline. According to data from the Vietnam Textile and Clothing Association, Vietnam’s textile and clothing exports in the first half of this year were 18.6 billion US dollars, a year-on-year decrease of 17.6%, with most of the decrease coming from clothing exports. The year-on-year decrease in the first five months of this year was 15.6%.
Like other clothing exporting countries, the main reason for the decline in Vietnam’s textile and clothing exports is the decrease in orders in the EU market. In addition, in the first five months of this year, the quantity and amount of clothing imported by the United States from Vietnam decreased by 33.5% and 28.1% respectively year-on-year. Vietnam’s market share in US clothing imports has decreased to 15.8% in terms of quantity and 17.4% in terms of amount.
Cambodia
Clothing industry exports decreased by 19% in the first half of the year
Against the backdrop of the global economic recession, Cambodia’s clothing industry exports continue to decline, leading to a large number of factory shutdowns and a wave of worker layoffs. In the past two months, the number of Cambodian clothing factories that have ceased production has increased to 40, involving nearly 20000 unemployed workers. According to data from the General Administration of Customs of Cambodia, in the first half of this year, the total export value of Cambodia’s clothing industry reached 3.727 billion US dollars, a year-on-year decrease of 19%.
According to classification, in the first half of the year, Cambodia’s exports of knitted and apparel products reached 2.477 billion US dollars, a decrease of 21.5% from 3.157 billion US dollars in the same period last year; The export of non knitted clothing reached 1.176 billion US dollars, a 13% decrease from 1.352 billion US dollars in the same period last year; The export value of other textiles was 74.69 million US dollars, a year-on-year decrease of 22.1%. In addition, the exported footwear products amounted to $700 million, a decrease of 17.2% compared to $8.46 in the same period last year.
India
From January to May, exports of yarn, fabrics and clothing decreased by 18.7%
Since the beginning of this year, India’s textile and clothing exports have continued to decline. According to data from the Indian Ministry of Industry and Commerce, India exported a total of 14.12 billion US dollars in various types of yarn, fabrics, manufactured goods, and clothing to the world from January to May, a year-on-year decrease of 18.7%. Among them, the export value of cotton textiles and linen products decreased significantly, with exports from January to May reaching 4.58 billion US dollars and 160 million US dollars respectively, a year-on-year decrease of 26.1% and 31.3%; The export volume of clothing, carpets, and chemical fiber textiles decreased by 13.7%, 22.2%, and 13.9% year-on-year, respectively.
In the just ended fiscal year 2022-23 (April 2022 to March 2023), India’s total export of textile and clothing products to the world was 33.9 billion US dollars, a year-on-year decrease of 13.6%. Among them, the export amount of cotton textiles was only 10.95 billion US dollars, a year-on-year decrease of 28.5%; The scale of clothing exports is relatively stable, with export amounts slightly increasing by 1.1% year-on-year.
Pakistan
Textile and clothing exports decreased by 14.59% in this fiscal year
In the fiscal year 2022/23 (July 2022 June 2023), Pakistan’s exports of textiles and clothing reached 16.503 billion US dollars, a year-on-year decrease of 14.59%; Exporting 267800 tons of cotton yarn, a year-on-year decrease of 19.38%; Export of cotton fabric reached 352 million tons, a year-on-year decrease of 18.04%. In June, Pakistan’s exports of textiles and clothing reached 1.472 billion US dollars, an increase of 11.47% month on month and a year-on-year decrease of 13.72%.
Türkiye
Textile and clothing exports decreased by 5.4% from January to May
Türkiye’s textile and clothing exports have shrunk. According to the data of Türkiye Statistics Bureau, Türkiye’s textile and clothing exports to the world from January to May totaled US $13.59 billion, a year-on-year decrease of 5.4%. The export value of yarn, fabrics, and finished products was 5.52 billion US dollars, a year-on-year decrease of 11.4%; The export value of clothing and accessories reached 8.07 billion US dollars, a year-on-year decrease of 0.8%.
United States
Textile and clothing exports decreased by 3.75% year-on-year from January to May
According to the US Office of Textiles and Clothing (OTEXA), the export volume of US textiles and clothing in the first five months of this year decreased by 3.75% year-on-year to $9.907 billion, compared to $10.292 billion in the same period last year. From a category perspective, clothing exports from January to May increased by 4.35% year-on-year to 3.005 billion US dollars, while fabric exports decreased by 4.68% year-on-year to 3.554 billion US dollars. Yarn and manufactured goods, as well as other exports, decreased by 7.67% to $1.76 billion and 10.71% to $1.588 billion, respectively.
Bangladesh’s Countertrend Growth
According to data released by the Bangladesh Export Promotion Board (EPB) on Sunday, Bangladesh’s commodity exports increased by 26% to $4.85 billion in May this year, compared to $3.83 billion in the same period last year. After two consecutive months of negative growth, export revenue increased significantly in May, mainly driven by the significant increase in clothing exports.
In May of this year, the export revenue of the clothing industry increased by 28.3% to $4.05 billion, compared to $3.16 billion in May 2022. In May of this year, the knitwear industry accounted for $2.33 billion in total export revenue, while the weaving industry contributed $1.94 billion.
Exporters attribute the strong growth of the clothing industry to the postponement of shipments from April to May during the Eid al Fitr holiday. However, due to the decline in demand from major markets and the global economic slowdown, other industries have been struggling.
Post time: Aug-09-2023