September textiles and apparel exports and domestic apparel retail declined

According to statistics released by the General Administration of Customs of China, textile and apparel exports in September amounted to US$22.981 billion, a decrease of 9.7% from the previous period, of which US$7.948 billion was exported to textiles, down by 5% from the previous period; exports of apparel and accessories were US$15.033 billion, a decrease of 12% from the previous quarter.

The United States, Japan, and the European Union are the major importers of Chinese textiles and apparel. According to the consumer confidence index of various countries, except Japan’s consumption power has gradually recovered from the earthquake disaster, the United States and the European Union have been caused by the European debt crisis and the unoptimistic economic situation. Demand declined, and consumer confidence continued to decline.

At the 110th Canton Fair, the number of customers in Europe and the United States drastically decreased. Orders for small and medium-sized enterprises attending the meeting shrank. The current Canton Fair highlighted the seriousness of the foreign trade situation from another angle.

At the same time, there has been no over-expectation of favorable conditions in domestic consumption, and overall demand has shown signs of slowing down. In September, the retail sales of all kinds of major retail enterprises in the country fell by 1.98% year-on-year, which was the first time since the last few months.

*** Appreciation will increase the export cost of the product, thereby weakening its competitive advantage in the international market, and at the same time making the export profits of the company fall.