China recorded a 14.3 per cent Y-o-Y rise in textile and apparel exports to $45.10 billion in the initial two months of the year, as per data from the General Administration of Customs. Surpassing the same period in 2023 by 32.8 percentage points, this growth reflects a promising start for the industry. Textile exports rose by 15.5 per cent Y-o-Y to $21.71 billion, while apparel exports expedited by 13.1 per cent to reach $23.38 billion.
Comparatively, this year's textile and apparel exports for the initial two months stand out favorably when considering historical data. Despite the challenges posed by the Spring Festival holiday in February, total exports maintained a robust level, hitting $45.1 billion. The slight increase in raw material prices compared to the previous year contributed to the uptick in export value. Moreover, reports from various enterprises indicate an uptrend in market orders since the year's commencement.
However, the overall performance for the first quarter remains unpredictable due to seasonal and holiday influences. The textile industry's foreign trade still faces considerable pressure, primarily stemming from the shortage of export orders. To navigate these challenges, industry players are urged to leverage the country's efforts in stabilising foreign trade policies. Emphasising the enhancement of export product structures and market diversification, along with a focus on cultivating new avenues for growth, is crucial for promoting high-quality development in the industry.