In the first three quarters of 2024, China's textile and apparel exports were mixed, and growth slowed in the second half of the year.While overall exports rose 0.5% from a year earlier to $238.55 billion, momentum weakened in the third quarter,especially in September.

In the first three quarters of 2024, China's total textile and apparel exports increased by 0.5% year-on-year to reach $238.55 billion. In terms of market share, the four traditional markets of ASEAN, the United States, the European Union and Japan still accounted for 53.2% of the total exports.

With the economy rebounding and monetary policy easing, China's exports to the United States rose 5.7% year-on-year. Exports to ASEAN increased by 6.1% year-on-year, mainly benefiting from the economic recovery in the region, especially Vietnam and Cambodia. For the European Union, growth was only 2% year on year, due to the weak economic recovery in the region. Exports to Japan fell 9.9% year on year due to slowing economic growth in Japan, a decline in inbound tourism and high inflation.

In terms of products, China's exports of knitted and woven garments increased by 4.6% year-on-year, while yarn and fabric exports to ASEAN increased by 10.8 percent year-on-year. However, geopolitical uncertainty, currency volatility, and weak demand in emergingmarkets pose significant challenges going forward.