Chinas textile and clothing exports grew by 3.7% this month, 1~8.

China's textile and clothing exports grew by 3.7% this month, 1~8

Recently, the General Administration of Customs released data showing that the total import and export value of China's goods trade between January and August this year was 3015.04 billion US dollars, an increase of 16.1% over the same period last year. Among them, the total value of exports was 16.43 billion US dollars, up 12.2% over the same period last year; the total value of imports was 1410.69 billion US dollars, up 20.9% over the same period last year. In August, China's exports of textile yarns, fabrics and products amounted to 10.283 billion US dollars, with a cumulative export of 78.74 billion US dollars from January to August, up 9.5% from a year earlier; in August, China's exports of clothing and apparel accessories amounted to 16.768 billion US dollars, with a cumulative export of 102.67 billion US dollars from January to August, down 0.3% from a year earlier.

According to the above-mentioned data, China's textile and clothing exports in August this year amounted to 27.75 billion US dollars, with a cumulative export of 181.4 billion US dollars in the previous August, an increase of 3.7% compared with the previous August. On the import side, China imported $1.631 billion of yarns, fabrics and products in August, and 12.167 billion in January-August, an 8.4% increase over the previous year.

Analysis shows that the export of electromechanical products and traditional labor intensive products is still the main export force. In the first eight months, China's exports of mechanical and electrical products in Renminbi totaled 5.63 trillion yuan, an increase of 13.4%, accounting for 57.1% of the total export value. The total exports of seven labor-intensive products, such as clothing, textiles and footwear, amounted to 2.05 trillion yuan, an increase of 10%, accounting for 20.8% of the total export value.

It is noteworthy that in the month of 1~8 this year, China's imports and exports to major markets such as the European Union, the United States, ASEAN and Japan showed growth, and the growth rate of imports and exports along the "one belt and one way" countries was higher than the overall level. Among them, China's exports to the United States in the previous August totaled 30.34 billion US dollars, an increase of 13.4% over the same period of last year; imports from the United States of 110.086 billion US dollars, an increase of 11.1% over the same period of last year; and the trade surplus with the United States further expanded. Industry insiders analysis, in the context of Sino-US trade friction, China's imports and exports to the United States remain growing, indicating that there is a strong complementarity between the Sino-US trade structure, the United States has a strong demand for Chinese products.

Bai Ming, deputy director of the International Market Research Institute of the Institute of International Trade and Economic Cooperation of the Ministry of Commerce, said that the exporters of the two countries rushed to export before the trade war. In this case, the growth of imports and exports in July and August had the factors of "snatching export" before the policy landed, and the uncertainty of exports in the coming months was very great.

At present, China and the United States impose tariffs on 50 billion US dollars. Some analysts believe that after the United States imposes tariffs on Chinese goods, the trade surplus between China and the United States has further expanded, thus worrying that the United States will further implement the imposition of tariffs on Chinese goods. If the U.S. imposes a $200 billion tax on goods, about half of its exports to the U.S. will be taxed, covering the vast majority of commodity types, and industries that rely heavily on U.S. exports may be hit harder.

Some industry analysts believe that August's foreign trade performance still has a certain stress effect, there are uncertain worries about Sino-US trade frictions, there are early shipment, sign the bill of lading phenomenon. In the fourth quarter of the future, there is a possibility of further decline in export growth, while import growth may continue to maintain steady growth.