Textile And Garment Exports "A Good Start": A Year-On-Year Increase Of 9.23% In January

According to the General Administration of customs data, China's textile and clothing export hit a good start in the first month of 2019. Textile and clothing exports in January were 25 billion 63 million US dollars, up 9.23% over the same period last year, much higher than the average growth rate in 2018. Among them, the export of textiles was US $11 billion 412 million, an increase of 14.64% over the same period, and exports of clothing and accessories reached US $13 billion 651 million, up 5.09% over the same period last year.

RMB denominated in January 2019, China's textile and apparel exports totaled 172 billion 880 million yuan, an increase of 14.06% over the same period last year. In the global economic and trade situation is not optimistic, and the Sino US trade negotiations are still in the sensitive uncertainty, in January this year, the export of textile and clothing can achieve the expected growth. The export volume rose to a new high in September last month. We think the main reason lies in the "wrong month" effect of the Spring Festival. At the same time, the enterprises have the power to "grab export" before the deadline for China to impose tariffs on March 1st, so the export data in January are good, but they do not reflect the real export situation. From a trend point of view, Global trade is slowing down, and China's textile and clothing exports will continue to bear pressure. Therefore, it is more reasonable to observe the total volume of trade and trade growth in 1-2 months.

In addition, China's footwear products exported 5 billion 164 million US dollars in January 2019, an increase of 9.4% over the same period last year, and the number increased by 15.5% over the same period last year.