China’s garment exports hit a record high of $333.8 billion in 2022, driven by strong demand from overseas markets, according to the latest data from the China National Textile and Apparel Council (CNTAC)..
The export value increased by 10.8% year-on-year, outpacing the overall growth rate of China’s total exports, which expanded by 7.7% in the same period..
The United States remained the largest export market for Chinese garments, accounting for 20.8% of the total export value, followed by the European Union (18.2%), ASEAN countries (12.2%), and Japan (5.7%)..
Garment exports to all major markets showed robust growth in 2022. Exports to the United States increased by 10.5% year-on-year, while exports to the European Union rose by 12.5%. Shipments to ASEAN countries and Japan also saw double-digit growth, increasing by 14.1% and 11.3%, respectively..
The strong export performance was attributed to several factors, including the recovery of global consumer demand, the depreciation of the Chinese currency against the US dollar, and the government’s support for the textile and apparel industry..
However, industry experts cautioned that the outlook for garment exports in 2023 is uncertain due to global economic headwinds, such as rising inflation, the ongoing Russia-Ukraine conflict, and potential recession in major economies..
To mitigate these challenges, the CNTAC is encouraging Chinese garment manufacturers to focus on high-value-added products, improve efficiency, and explore new export markets in emerging economies..
The garment industry is a significant contributor to China’s economy, providing employment to millions of workers and generating billions of dollars in revenue. The record-high exports in 2022 highlight the resilience and competitiveness of the Chinese garment industry despite global challenges..
