Overview of China’s Textile Exports

Among them, China’s textile exports amounted to US$104.663 billion, accounting for 36.22%, ranking first, but its share decreased by 1.24 percentage points from the previous year.
India’s textile exports amounted to US$16.210 billion, accounting for 5.61%, ranking second, and its share decreased by 0.34 percentage points from the previous year.
Germany’s textile export value was US$13.376 billion, accounting for 4.63%, ranking third, and its share increased by 0.08 percentage points compared with the previous year.
The US textile export value was 12.904 billion US dollars, accounting for 4.47%, ranking fourth, and its share decreased by 0.27 percentage points compared with the previous year.
Italy’s textile export value was US$11.707 billion, accounting for 4.05%, ranking fifth, and its share increased by 0.01 percentage points compared with the previous year.
The top five textile exporters together accounted for 54.97% of the total textile export value.
The analysis shows that in terms of exports, mechanical and electrical products and traditional labor-intensive products are still the main export force. In the first eight months, in RMB terms, my country’s mechanical and electrical products exported 5.63 trillion yuan, an increase of 13.4%, accounting for 57.1% of the total export value. The total export of 7 categories of labor-intensive products such as clothing, textiles and footwear was 2.05 trillion yuan, an increase of 10%, accounting for 20.8% of the total export value.
It is worth noting that from January to August this year, my country’s imports and exports to major markets such as the European Union, the United States, ASEAN and Japan all showed growth, and the growth rate of imports and exports to countries along the “Belt and Road” was higher than the overall level. Among them, my country’s cumulative exports to the United States in the first eight months were 303.44 billion US dollars, a cumulative increase of 13.4% year-on-year; imports from the United States were 110.806 billion US dollars, a cumulative year-on-year increase of 11.1%; the trade surplus with the United States further expanded. Industry insiders analyzed that under the background of Sino-US trade frictions, China’s import and export to the United States still maintained a growth state, indicating that there is a strong complementarity in the Sino-US trade structure, and the US has a strong demand for Chinese products.
Bai Ming, deputy director of the International Market Research Institute of the International Trade and Economic Cooperation Research Institute of the Ministry of Commerce, said that before the trade war, the exporters of the two countries rushed to export. “factors, the uncertainty of exports in the next few months is great.
At present, China and the United States have imposed tariffs on 50 billion U.S. dollars of goods to each other, and all measures have been implemented. Some analysts believe that after the U.S. imposed additional tariffs on Chinese goods, the Sino-U.S. trade surplus will further expand, so they worry that the U.S. will further impose tariffs on Chinese goods. If the U.S. implements the tariff increase on US$200 billion of goods, it means that about half of the exports to the U.S. will be taxed, covering the vast majority of commodity types. At that time, industries that are more dependent on U.S. exports may be greatly affected.
Some industry analysts also believe that the foreign trade performance in August still has a certain stress effect. Enterprises have uncertain concerns about Sino-US trade frictions, and there are phenomena of early delivery and signing of orders. In the fourth quarter of the future, the export growth rate may further decline, while the import growth rate may continue to maintain a steady growth.