The withdrawal of foreign capital from foreign-funded enterprises led to a slowdown in quarterly textile and clothing export growth

In the first quarter, national textile and apparel exports totaled US$59.78 billion, a slight increase of 2.84%. The growth rate was 1.9 percentage points lower than the national foreign trade export growth rate. Among them, textile exports were US$23.99 billion, an increase of 4.13%; clothing exports were US$35.79 billion, an increase of 2%.
From the perspective of the composition of textile and garment export enterprises, foreign-funded enterprises have become the main factor driving the slowdown in the growth of China’s textile and garment exports. In the first quarter, foreign-funded enterprises exported US$13.7 billion, a year-on-year decrease of 5.95%; state-owned enterprises exported US$6.8 billion, a year-on-year decrease of 5.73%; private enterprises exported US$39.2 billion, a year-on-year increase of 8%.
Judging from the number of exporters of textile and garment enterprises. In the first quarter, foreign-funded enterprises exported 12,580 units, a year-on-year decrease of 4.85%; state-owned enterprises exported 1,814 units, a year-on-year decrease of 6.74%; private enterprises exported 46,792 units, a year-on-year increase of 6.74%.
The above data shows that the decline in the number of exports of foreign-funded enterprises has directly led to the decline in their export volume, and has played a major role in the slowdown in the growth rate of China’s textile and apparel exports. The impact of the withdrawal of foreign investment from foreign-funded enterprises in textile and apparel on China’s exports cannot be ignored.