Mixed Results For Foreign Trade Of China's Textiles And Apparel In October
Image Courtesy of Canon
After riding out a supply shock that closed down most of its factories, China is bracing for a second wave demand shock to its economy
Closure of overseas markets to hit exports, while psychological scars, bankruptcy and job losses will hit domestic demand
According to China Customs, in October, the export of China's textile and apparel reached US$ 24.84 billion, down 12.45% month-on-month.
Among them, the export of China's yarns, fabrics and related products in October reached over US$ 11.66 billion, decreased by 11.33% month-on-month; the export of China's apparel and accessories were US$ 13.18 billion, declined by 13.41% compared with that of September.
From January to October 2020, the export of China's textile and apparel totalled more than US$ 240.62 billion, up 9.52% year-on-year.
Thereinto, the export of China's yarns, fabrics and related products totalled more than US$ 129.61 billion, up by 31.9% year-on-year; the total export of China's apparel and accessories were US$ 111.01 billion, decreased by 8.6% year-on-year.
In October 2020, China's import of yarns, fabrics and related products was about US$ 1.09 billion; from January to October 2020, China's import of yarns, fabrics and related products was US$ 11.39 billion, down 11.1% year-on-year.
From January to October 2019, China's import of yarns, fabrics and related products totalled about US$ 12.82 billion.
