Apparel exports from China increased in 2022 from $156.764 billion in 2021, according to Fibre2Fashion’s market insight tool TexPro.
Chinese apparel exports increased in 2021 too, when the value of exports increased by 25.80 per cent to $156.764 billion compared to $124.654 billion in 2020. However, this increase in value was again due to an increase in per unit price, which rose by 12.13 per cent to $3.88 in 2021 compared to $3.46 in 2020.
China’s apparel exports increased in value by 7.05 per cent to $167.876 billion in 2022, but this was due to a rise in per unit price rather than an increase in volume.
Similarly, in 2021, apparel exports increased by 25.80 per cent to $156.764 billion, due to rising per unit prices.
The average unit price of Chinese apparel export declined until 2020.
The average unit price of Chinese apparel exports recorded a declining trend until 2020, with a decrease of 3.08 per cent to $3.46 in 2020. Similarly, the unit price decreased to $3.56 and $3.64 in 2019 and 2018, respectively. The total value of Chinese apparel exports was recorded at $124.654 billion in 2020, $145.112 billion in 2019, $144.598 billion in 2018, and $155.904 billion in 2017, as per TexPro.
It is also worth noting that the low demand amid economic slowdown and US ban on products made from cotton originating from the Xinjiang region of China impacted the export demand in 2022.
Fibre2Fashion News Desk (KUL)
