China witnessed Y-o-Y growth in its RMG exports for the first time in 2020 in the month of August and the country has continued its growth in September (though marginal) as well.
According to the Ministry of Industry and Information Technology (MIIT), China, the country has clocked US $ 13.05 billion from its apparel exports in September ’20 which is 0.78 per cent higher than the values it clocked in September ’19.
As far as monthly change is concerned, China was down in September ’20 as compared to August ’20 by 6.04 per cent which indicates the decline has reduced this year. It’s worth recalling here that the fall was also there on monthly basis (in September over August) last year when exports dropped by over 12 per cent.
Cumulatively in January-September ’20 period, China’s garment exports got a boost of 3.60 per cent on yearly basis and totalled US $ 84.63 billion.
On the other hand, textile exports from the country also noted a huge growth of 36 per cent on Y-o-Y basis in January-September ’20 period and valued US $ 117.95 billion.
These positive figures are a clear indication that China is still nowhere near to lose its dominance in garment and textile manufacturing, as it continues to see growth in its exports. The same was reported by Team Apparel Resources a couple of weeks back –