China’s Textiles and Apparel Exports Grew in October – Domestic Consumer Spending also on the Rise

According to the latest data released by the General Administration of Customs, China’s textiles and apparel exports saw rapid growth in October. In CNY-denominated terms, China’s textiles and apparel exports totalled 1.76 trillion from January to October, up by 3% over the same period last year.

Among them, textile exports reached 829.52 billion yuan, increasing by 5.8% year-on-year; apparel exports were 932.75 billion yuan, up by 0.7% year-on-year.

In October, the textile and apparel exports amounted to 180.65 billion yuan, seeing a year-on-year increase of 8.5% and a month-on-month growth of 2.3%. Thereinto, textile exports reached 87.83 billion yuan, up 12.6% year-on-year; apparel exports were 92.82 billion yuan, up 4.9% year-on-year.

In part this growth could be attributed to importers from outside China attempting to beat tariffs before the Trump administration takes over.

In US$-denominated terms, from January to October 2024, the cumulative textile and apparel exports totalled US$ 247.89 billion, seeing a year-on-year increase of 1.5%. Among them, textiles exports reached US$ 116.69 billion, up by 4.1% year-on-year; apparel exports were US$ 131.2 billion, declining by 0.7% year-on-year. In October alone, the textile and apparel exports amounted to US$ 25.48 billion, seeing a year-on-year increase of 11.9%. Thereinto, textile exports reached US$12.39 billion, up by 16.1% year-on-year; apparel exports amounted to US$ 13.09 billion, seeing a year-on-year growth of 8.1%.

Retail Sales of Clothing, Foot & and Knitted Goods up 1.1% in the first 10 months

China’s consumer market registered more rapid growth in October as the sales of household appliances, furniture and automobiles were robust thanks to the national trade-in program.

The National Bureau of Statistics said in a statement that retail sales of consumer goods went up 4.8% year on year last month, quickening from the 3.2% increase in September. In the first 10 months, retail sales of consumer goods expanded 3.5% from a year earlier, 0.2 percentage points higher than the January-September period.

From January to October, China’s online retail sales amounted to 12.36 trillion yuan, up 8.8% year-on-year. In the online retail sales of physical commodities, wearing goods increased by 4.7% year-on-year.

By consumption types, from January to October, the retail sales of commodities totaled 35.45 trillion yuan, with year-on-year growth of 3.2%, of which the retail sales of clothing, foot & head wear and knitted goods amounted to 1.15 trillion yuan, growing by 1.1% year-on-year.

Source: CHINA TEXTILE LEADER Express