The General Administration of Customs of China (GACC) has released the garment import data of the country and the positivity should be a matter of huge relief for the exporters!
China surged in its apparel imports during January-September ’20 period by 27 per cent from the same period of 2019 and it valued US $ 6.45 billion.
Particularly in September ’20, the Chinese import of garments valued US $ 1.01 billion which is by far the best value in 2020 in any month. The value is 13.26 per cent higher than August ’20.
Now since there are no restrictions in China, as pandemic has been controlled, the consumers are out in the streets to shop garments, thereby resulting in positive import of the country.
As far as textile imports are concerned, China’s performance is no less than dismal! Due to piled up inventories till August, the country reduced its imports and, as a result, textile shipment entering to China fell 3.20 per cent in January-September ’20 period and valued US $ 10.31 billion.
Of overall textile imports, textile yarns contributed US $ 4.34 billion, while fabrics and other textile products shared remaining value – US $ 5.66 billion – in the first 9-month period of 2020.
In September ’20, textile yarns noted a monthly surge of 9.55 per cent and valued US $ 535.34 million. This signals that Chinese textile importers have started filling up inventories from September onwards – a great sign for the exporters for whom China is a major exporting destination.