China garment exports of $765.026 million in the last quarter of 2021 dipped to one third to reach $253.786 million in the first quarter of 2022, which more than doubled to $570.442 million in Q2 2022. The shipment further increased to $895.546 million in Q3 and $1.653 billion in the last quarter of 2022, according Fibre2Fashion’s market insight tool TexPro.
Garment exports from China to Vietnam surprisingly not only jumped substantially in the last quarter of 2022 but also breached the $1.5 billion mark on a quarterly basis. China’s exports of apparel to Vietnam increased by 85 per cent to $1.653 billion in Q4 2022. The shipment was $895.546 million in Q3 2022 and $765.026 million in Q4 2021.
The outbound shipment of garments from China to Vietnam was recorded at $3.372 billion in 2022, 25.91 per cent higher than the exports of $2.678 billion in 2021. China’s exports of garments to Vietnam stood at $2.823 billion in 2017, $4.194 billion in 2018, $2.583 billion in 2019 and $2.935 billion in 2020.
Vietnam was the thirteenth largest market for China’s garment exports in 2022. The world’s second largest economy exported garments worth $165.971 billion to the world in 2022, out of which 2.03 per cent was exported to Vietnam, as per TexPro.
Fibre2Fashion News Desk (KUL)
