According to Guangzhou Customs statistics, from January to November this year, Guangdong garment exports totaled 20.11 billion U.S. dollars, down 12.5 percent compared with same period last year. In November, with total exports in Guangdong showing positive growth for the first time this year, clothing exports continues to be weak. Exports of garments reached 1.86 billion U.S. dollars in November, down 29.1 percent on the same period last year, a decline of 2.9 percent on the previous month.
Customs analysts believe that, due to the low entrance level for the textile and apparel industry, this industry is competitive with low profit margins. Textile and apparel industry is extremely sensitive to changes in policies and the market, and its anti-risk ability is relatively weak, therefore recovery in exports is facing many challenges.
Judging from data, export is no longer in the peak period in the 4th quarter and in December it is also hard to be optimistic about the situation of garment exports. In recent 2 months, both general trade and processing trade exports declined.
It is noteworthy that, as one of the largest markets of garment exports, this year stimulated by canceling the garment export quota to the United States, Guangdong's exports to the U.S. maintains good growth momentum. From January to November, Guangdong garment exports to the U.S. totaled 3.85 billion U.S. dollars, an increase of 16 percent. But over the past 2 months, Guangdong's exports to the U.S. witnessed clear continuous decline over the previous month.
Customs recommends that foreign trade enterprises should improve their overall ability to resist risks, and actively participate in export credit insurance to reduce risk. In addition, these enterprises should put more efforts into their own industrial upgrading and speed up innovation.
