According to the General Administration of Customs of China (GACC), the country has experienced a Y-o-Y surge of 8.70 per cent in its garment imports in January-August ’20 period, valuing US $ 5.44 billion.
This surge, even in pandemic, indicates that consumers in China are not afraid to spend on clothing and the sales of clothing are improving on monthly basis.
Particularly in August ’20, the import of apparels valued US $ 895.26 million, which is 4.45 per cent more than what the country imported a month earlier – US $ 857.16 million (in July ’20).
While on one hand, apparel import has been registering growth, textile import, on the other hand, is facing stiff challenges – all because of already piled up inventories. Textile yarns and fabric imports plunged by 13.70 per cent in the first 8-month period of 2020 to US $ 9.15 billion.
Out of total textile yarn imports, cotton yarns contributed majorly by US $ 2.71 billion in January-August ’20 period but with a fall of 6 per cent on yearly basis. The imports of synthetic yarns tumbled by 17.70 per cent to US $ 738.23 million.
As far as August ’20 is concerned, a monthly fall is certainly there and the import of textile yarns was down by 5.79 per cent to US $ 488.65 million.