Guangdong’s quarterly textile and apparel exports dropped significantly

Recently, according to customs statistics, in the first quarter of this year, Guangdong exported 53.46 billion yuan of clothing and clothing accessories, textile yarns, fabrics and products, a decrease of 10.4% compared with the same period last year.
In the first quarter of this year, Guangdong’s textile and apparel exports mainly showed the following characteristics:
Clothing exports have declined for four consecutive months. Since December last year, Guangdong’s textile and apparel monthly exports have declined for four consecutive months. Exports in February shrank sharply, down 37.3% year-on-year, and exports in March fell 2.3% year-on-year.
Nearly 60% of exports are in the form of general trade, and exports in the form of processing trade have increased slightly despite the trend. In the first quarter, Guangdong exported 32.04 billion yuan of textiles and clothing through general trade, a decrease of 15.2%, accounting for 59.9% of Guangdong’s total textile and clothing export value during the same period; during the same period, exports through processing trade amounted to 14.62 billion yuan, an increase of 2%, accounting for 31.2%. In addition, exports in the form of special customs supervision areas were 4.64 billion yuan, a decrease of 16.6%, accounting for 8.7%.
Foreign enterprises are the main exporters, and the exports of state-owned enterprises have dropped significantly. In the first quarter, foreign-funded enterprises exported 23.33 billion yuan of textiles and clothing, an increase of 0.5%, accounting for 43.6%; private enterprises exported 21.91 billion yuan, a decrease of 19.3%, accounting for 41%; state-owned enterprises exported 8.23 ​​billion yuan, a decrease of 11.8%, accounting for 15.4%.
Mainly exported to Hong Kong, China, the European Union and the United States. In the first quarter, Guangdong’s textile and apparel exports to Hong Kong were 13.26 billion yuan, a decrease of 14.7%; exports to the EU were 10.3 billion yuan, an increase of 1.7%; exports to the United States were 9.37 billion yuan, a decrease of 3.3%; exports to the above three markets accounted for 61.6% in total. In addition, exports to ASEAN were 13.98 billion yuan, a decrease of 14.8%.
Industry insiders analyze that factors such as the inversion of cotton prices have led to the weakening of the cost advantage of domestic enterprises and the loss of downstream clothing orders. Coupled with factors such as rising labor prices and the appreciation of the RMB that are inevitable in economic transformation and upgrading, the production and operation costs of my country’s textile and garment export enterprises are constantly pushing up. The cost advantage of my country’s textile and garment products is acceleratingly weakening, and many multinational companies are accelerating their orders to Transferred to Turkey, Southeast Asia and other places.