From January to October, the export volume of textiles and clothing in China increased by 1.5% year-on-year, and the overall foreign trade situation improved.
According to the General Administration of Customs’ statistical news today, from January to October this year, China’s textile and clothing exports amounted to US$247.89 billion, a year-on-year increase of 1.5%, and the growth rate was 1 percentage point faster than that in the first three quarters. Among them, textile exports amounted to US$116.69 billion, a year-on-year increase of 4.1%; clothing exports amounted to US$131.2 billion, a slight year-on-year decrease of 0.7%.
In terms of RMB, China’s textile and clothing exports from January to October amounted to 1.76 trillion yuan, up 3% year-on-year. Among them, textile exports amounted to 829.52 billion yuan, up 5.8% year-on-year; clothing exports amounted to 932.75 billion yuan, up 0.7% year-on-year.
As global inflation eased, demand in some overseas markets rebounded, and the base of the same period last year was relatively low, my country’s textile and clothing exports in October reached US$25.48 billion, up 11.9% year-on-year. Among them, textile exports reached US$12.39 billion, up 16.1% year-on-year, and clothing exports reached US$13.09 billion, up 8.1% year-on-year.
Figure: Monthly Statistics of National Textile and Clothing Exports in 2024
Faced with a complex international trade environment, Chinese textile industry has steadily increased its competitiveness this year, and exports to major markets such as ASEAN, the United States, the European Union, and countries participating in the “Belt and Road” initiative have maintained steady growth. However, at the same time, due to the volatility of demand and geopolitical risks that have exacerbated environmental uncertainty, the industry’s foreign trade will still be under great external pressure.
China stands at a pivotal moment in the evolution of global trade and logistics. The General Administration of Customs has unveiled a new set of 15 key supporting measures, building upon last year’s initiatives. These measures are designed to enhance customs operations, bolster international trade, and reduce costs for enterprises. Their focus today is on how these developments, particularly in the Western Land-Sea Corridor, are transforming the landscape of global commerce and presenting lucrative opportunities for investment.
The first major point of focus is the facilitation of customs clearance. The new measures aim to streamline processes, making it easier and faster for goods to move across borders. This is crucial as it directly impacts the efficiency of trade operations. By reducing bureaucratic hurdles and implementing advanced regulatory models, the customs administration is creating an environment that is conducive to the growth of new business formats and models. This not only benefits enterprises by reducing delays and costs but also enhances the overall competitiveness of the trade infrastructure.
The second point centers on supporting the opening up of markets and serving the industry. The Western Land-Sea Corridor is a testament to this commitment. With its reach extending to 542 ports across 125 countries and regions, the corridor is a vital artery for global trade. This expansive network is crucial for industries seeking to expand their market presence and tap into new consumer bases.
The corridor’s 111 open ports and 48 comprehensive bonded areas are instrumental in achieving this. In the first ten months of this year alone, these bonded areas have facilitated imports and exports worth 1.55 trillion yuan, marking a 10.4% increase from the previous year. This growth is a clear indicator of the corridor’s role in driving economic activity and reducing logistical costs for businesses. By replicating and promoting successful measures, China hopes to continue to deliver significant cost savings and efficiency gains for enterprises.
