Seems like China is back to normal and so is its apparel trade. At least, the exports and imports of the garments say so, if latest data released by General Administration of Customs China (GACC) is anything to go by.
The country noted 50 per cent Y-o-Y rise in its apparel and accessory exports during Jan.-Feb. ’21. And imports of garments were too up by 48 per cent to US $ 1.93 billion in the first two months of 2021.
According to an analysis done by Apparel Resources, after importing US $ 1.11 billion worth of garments and accessories during Jan. ’21, China’s import valued US $ 815.67 million in Feb. ’21 – noting 18.20 per cent surge on Y-o-Y basis.
However, there was a slight drop in imports in Feb. over Jan. this year but that can be attributed to Chinese New Year holidays.
On one hand,while apparel trade is getting back to normal, textile imports of the country are showing negative trajectory but marginally.
As far as textile import is concerned, China’s value declined by around 3 per cent to US $ 2.08 billion in Jan.-Feb. ’21 period. China noted 42.20 per cent growth in Jan. ’21 value, while it dropped by around 45.50 per cent on Y-o-Y in Feb. ’21.
The coming months will be interesting to see where does China position itself in the apparel trade at a time when its Asian counterparts are still on negative side.