The growth rate of textile and garment exports in the previous Shanghai Customs District fell back

According to Shanghai Customs statistics, in the first four months of this year, the Shanghai Customs District exported 173.8 billion yuan of textiles and clothing, an increase of 2.2% over the same period last year (the same below), and the growth rate dropped by 4 percentage points.
After single-month exports hit the lowest level in nearly two years in February, export growth narrowed significantly in April. After the single-month export value of textile and clothing in the Shanghai Customs District declined year-on-month in February this year, hitting the lowest level since March 2012, exports resumed growth in March. Exports in April were 47.67 billion yuan, a month-on-month increase of 21.4%, and a year-on-year increase of 5 %, the growth rate narrowed by 5.3 percentage points and 1.9 percentage points respectively compared with March this year and April last year.
More than 80% of exports are in the form of general trade, while exports in the form of processing trade have declined slightly. In the first four months of this year, the Shanghai Customs District exported 151.08 billion yuan of textiles and clothing in the form of general trade, an increase of 2.8%, accounting for 86.9% of the total textile and clothing export value of the Customs District during the same period. During the same period, exports in the form of processing trade amounted to 20.73 billion yuan, a decrease of 3.8%, accounting for 11.9% of the total textile and clothing export value of the customs area during the same period.
The proportion of exports by private enterprises has increased, while exports by foreign-invested enterprises and state-owned enterprises have declined. In the first four months of this year, private enterprises exported 95.84 billion yuan of textiles and clothing through the Shanghai Customs area, an increase of 7.2%, which was 5 percentage points higher than the overall growth rate of textile and clothing exports in the customs area during the same period. The proportion of the total value of textile and clothing exports in the customs area was The same period last year increased from 52.6% to 55.1%. During the same period, foreign-invested enterprises exported 48.46 billion yuan, a decrease of 3%; state-owned enterprises exported 29.5 billion yuan, a decrease of 4%.
The United States is the largest export market in the customs area, and its exports to Japan have dropped significantly. In the first four months of this year, Shanghai Customs exported 35.73 billion yuan of textiles and clothing to the United States, an increase of 1.4%, making it the largest export market for textiles and clothing in the customs area; exported 35.34 billion yuan to the European Union, an increase of 12.6%; exported 26.28 billion yuan to Japan, down 14%. The total exports to the above three major developed economies accounted for 56% of the total textile and apparel export value of the customs area during the same period. In addition, exports to ASEAN were 18.11 billion yuan, an increase of 12.9%.
It is understood that the raw materials and labor force in the textile and garment industry continue to rise, and the outflow of orders due to price reasons is the main reason for the decline in the growth rate of textile and garment exports in the Shanghai Customs District in the first four months of this year. In addition, foreign technical trade measures are frequently introduced, which further increases the difficulty of textile exports. It is recommended to further accelerate the transformation and upgrading of the textile and apparel industry, strengthen brand building and product research and development, increase product structure adjustment, and improve the international market competitiveness of export products.