China’s goods trade stats from January to September 2020 reveal textile and clothing exports in the first three quarters achieved faster growth than national trade in goods. From January to September 2020, China’s textile and clothing exports increased by 12.2 per cent to 1,515.67 billion yuan, as per General Administration of Customs. This included textile exports worth 828.78 billion yuan and clothing exports worth 686.89 billion yuan.
Cumulative T&C exports rise 9.3 per cent
From January to September 2020, China’s cumulative exports of textile and clothing increased 9.3 per cent to $215.78 billion. Of this, textile exports increased by 33.7 per cent $117.95 billion while clothing exports decreased by 10.3 per cent to 97.83 billion. In the first three quarters, China's total import and export value of goods trade increased by 0.7 per cent to 23.12 trillion yuan. Amongst this, the value of exports increased by 1.8 per cent to 12.71 trillion yuan, while the value of imports decreased by 0.6 per cent to 10.41 trillion yuan.
From January to September 2020, the total value of imports and exports of goods trade increased by 0.7 per cent to 23.1 trillion yuan. Of this, exports increased by 1.8 per cent to 12.7 trillion yuan while imports decreased by 0.6 per cent 10.4 trillion yuan.
In the first three quarters, the total value of US –China trade increased by 2 per cent to 2.82 trillion yuan. During this period, China’s exports to the United States increased by 1.8 per cent to 2.18 trillion yuan while its imports from the United States increased by 2.8 per cent to 640.86 billion yuan. During the period, China exported 1.31 trillion yuan worth of mechanical and electrical products to the United States, which accounted for 60 per cent of its total export value to the United States.
Cross border e-commerce platform leads to 52.8% trade growth
China's import and export through customs cross-border e-commerce management platform increased 52.8 per cent to reach 187.39 billion yuan. Of this, China’s imports and exports to ASEAN, the EU, the United States, Japan and South Korea increased by 7.7 per cent, 2.9 per cent, 2 per cent, 1.4 per cent and 1.1 per cent to 3.38 trillion yuan, 3.23 trillion yuan, 2.82 trillion yuan, 1.61 trillion yuan and 1.45 trillion yuan, respectively. ASEAN emerged as China's largest trading partner, accounting for 14.6 per cent of its total foreign trade.
China's general imports and exports increased by 2.1 per cent to13.92 trillion yuan. Textile and clothing exports increased 5.4 per cent to reach 2.59 trillion yuan. Among these, the export of textiles including masks increased by 37.5 per cent to 828.78 billion yuan. In future, the Chinese government needs to focus on exports of mechanical equipment, electronic components, textile and clothing, shoes and boots.