In the second quarter of 2024, the domestic economy has picked up, the comprehensive efficiency of China's stable foreign trade policy has continued to play, the inventory replenishment cycle in key markets has continued, the vitality of China's textile and garment exports has been continuously released, and the textile and garment exports have grown month by month from April to June, and the overall trend has maintained stability. Exports exceeded $27 billion in June, the fourth consecutive month of growth.
In the first half of the year, China's textile and garment industry overcame the impact of global foreign exchange market fluctuations, increased trade barriers, and poor international shipping, and its export performance was better than expected, the transformation and upgrading of the supply chain was accelerated, and the ability to adapt to changes in overseas markets was continuously enhanced. China's cumulative textile and garment exports of 143.24 billion US dollars, an increase of 1.6%. Among them, exports to the United States increased by 5.1 percent, and exports to ASEAN increased by 9.5 percent.
Looking forward to the third quarter and the next period of time, China's textile and garment exports are still facing uncertain factors such as external demand growth is not stable, geopolitical risks are intensifying, and trade barriers are increasing, and the complex and severe external situation still brings greater uncertainty and risk challenges to China's textile industry foreign trade. However, with the landing of a series of national macro-control policies, the foreign trade of China's textile industry is still expected to continue to recover smoothly in the second half of the year, and it is preliminarily expected that exports in the third quarter will maintain growth on the basis of a low base.
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