China has concluded year 2021 with US $ 170.26 billion worth of garment and accessory exports, as per the latest data released by General Administration of Customs, China (GACC).
The country noted growth of 24 per cent over 2020, whereas the exports have surpassed the levels of 2019 by 16 per cent.
The significant rise in exports, as per official data, re-triggers the discussion if China is still a dominant force in the global apparel manufacturing industry, despite several reports claiming its share is shrinking with each year passing by!
Particularly, in December ’21, China clocked US $ 15.92 billion, noting 11.48 per cent Y-o-Y growth.
On one hand, the exports of garments are increasing, while textile exports of China, on the other hand, are yet to see stability.
In 2021, textile exports declined by 5.60 per cent to US $ 145.20 billion as against US $ 153.78 billion export figures tapped during 2020.
