China has experienced a significant growth in its textile and garment exports by 5.62 per cent to US $ 187.41 billion during January to August 2020, as per the Ministry of Industry and Information Technology (MIIT), China.
Textile exports, in particular, contributed US $ 104.80 billion, growing by 32 per cent on Y-o-Y basis, while the export of garments saw a plunge of 15.74 per cent to US $ 82.61 billion.
What’s noteworthy is the performance of China in August ’20 when its garment exports totalled US $ 16.21 billion, marking 3.23 per cent surge on Y-o-Y basis and that’s the first month in 2020 when it grew on Y-o-Y basis.
As far as comparison between July ’20 and August ’20 is concerned, China tapped over 5.80 per cent growth in August ’20 from preceding month when it had exported just US $ 15.32 billion worth of garments to the world.
On the other hand, as PPE textiles demand has been surging all across the world, China is getting benefits due to its ability to cater to huge orders’ quantities in short lead time.
As a result, continuing the growth even in August ’20, textile exports from the country jumped by 46.96 per cent on Y-o-Y basis to US $ 14.72 billion.