The Increase Of Textile And Clothing Unit Price Drives The Export Growth In August

Customs statistics show that in August this year, China's textile and clothing Trade volume US $27.53 billion, up 25.8%, including US $25.45 billion in exports, up 26.4%, and US $2.07 billion in imports, up 19%. balance of trade surplus US $23.38 billion, up 27.1%. From January to August, China's textile and clothing trade volume totaled US $178.22 billion, an increase of 25%, including US $163.19 billion in exports, an increase of 25.7%, and US $15.03 billion in imports, an increase of 17.2%. The trade surplus reached US $148.16 billion, up 26.7%.

From January to August, China's textile and clothing trade maintained a rapid growth overall. The export growth was mainly driven by the price increase. From January to August, the comprehensive export price index of textiles and clothing was 135.4%, including 125.9% for textiles and 141.3% for clothing.

　　 Clothing exports to Europe and the United States declined

EU market: In August, China's exports to the EU reached 6.16 billion US dollars, up 26%, Increase 6.7 percentage points lower than that in July. Textile exports reached 1.03 billion US dollars, up 16.8%. The export volume of knitted and woven garments fell again this year, by 2.2%. The average export unit price rose by 28.8%, down from the previous period. From January to August, China's exports to the EU reached 37.43 billion US dollars, up 29.1%, including 7.91 billion US dollars in textile exports, up 22.6%, and 29.51 billion US dollars in clothing exports, up 30.9%.

US market: In August, China's textile and clothing exports to the United States reached 4.18 billion US dollars, up 14.2%. Among them, the textile export was 850 million US dollars, and the clothing export was 3.33 billion US dollars, up 8.5% and 15.7% respectively. The export volume of knitted and woven clothing decreased by 7.3%, but the average export unit price still kept rising, with a year-on-year increase of 23.3% and a month on month increase of 1.4%. From January to August, China's textile and clothing exports to the United States reached US $24.66 billion, up 13.9%. Among them, textile exports reached 6.21 billion US dollars, up 10.1%, and clothing exports reached 18.45 billion US dollars, up 15.3%.

Japan market: In August, China's exports to Japan continued to rebound, reaching a new high of 2.8 billion US dollars that month. Year on year growth was 31.4% and month on month growth was 31%. Among them, textile exports grew by 28%, and clothing grew by 32.1%. The export volume of knitted and woven garments increased by 9.2%, and the export unit price increased by 21.7%. From January to August, China's textile and clothing exports to Japan reached US $16.8 billion, up 25.4%. Among them, textiles increased by 32% and clothing by 23.9%.

ASEAN market: In August, China's exports to ASEAN reached 1.65 billion US dollars, an increase of 46.9%, of which yarn exports increased and prices fell. The export volume of fabrics increased by 1.8%. Although the export unit price still increased by 19.2%, the growth rate dropped rapidly. From January to August, exports to ASEAN reached US $12.72 billion, up 41%, of which yarn and fabric exports totaled US $7.04 billion, up 43.4%.

　　 General trade drives import growth

In August, exports of all major trade modes maintained growth. The export of general trade was 19.28 billion US dollars, accounting for 75.8% of the total export, with a year-on-year growth of 28.7%. The export of processing trade was 4.1 billion US dollars, with a growth of 13.1%. The small border trade has shown outstanding performance, and is the only trade mode to maintain the year-on-year and month on month growth of exports. The export of the current month was 950 million US dollars, a new annual monthly high, with a month on month growth of 9.9% and a year-on-year growth of 43.4%. The total export of bonded area warehousing transit goods trade and bonded warehouse inbound and outbound goods trade was 520 million US dollars, up 22.7% year on year, and the growth rate continued to decline compared with July. From the perspective of import, the import of general trade in the current month hit a new high in the year, reaching 800 million US dollars, an increase of 42.5%, driving the overall import growth by 12 percentage points.

From January to August, the export of general trade was US $124.23 billion, accounting for 76.1% of the total export, and the export of processing trade was US $27.57 billion, accounting for 17% of the total export. General trade exports grew by 28.2%, while processing trade grew by 13.2%.
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