There Are Signs Of Recovery In Clothing Export In June, And The Follow-Up Is Not Optimistic

According to customs statistics, in the first half of the year, China's clothing exports totaled US $51.08 billion, down 19.4% year-on-year. In June, China's clothing exports reached US $12.87 billion, down 10.3% year-on-year and up 40.5% month on month. From February to June, China's clothing exports decreased by 63.6%, 22%, 27.9%, 24.9% and 10.3% year-on-year, respectively, with the decline rate narrowing since May.

From the perspective of the international market, after the outbreak of the epidemic in April and the cliff like decline of consumption caused by the economic shutdown in April, the main market economy has been restarted and the demand has bottomed up. Retail sales of clothing increased by 188.5% compared with that of Japan and the United Kingdom, with an increase of 188.5% and 17.7% respectively compared with that of Japan and the United Kingdom. The launch of new summer clothing orders has led to the recovery of China's clothing exports in June and a month on month growth.

Looking forward to the second half of the year, due to the sharp decline in spring clothing sales in the international market, many brands said they would cancel some autumn orders and sell spring stocks in autumn. Nike said it had canceled about 30% of its factory orders before the fall and end of the year shopping season. H & M said it would sell some off season spring stock in the fall. Ralph Lauren said it had cancelled about two-thirds of its autumn orders, while Levi Strauss & Co. said it would launch some unsold basic garments in the fall. Therefore, it is expected that China's exports in the third quarter will not improve significantly.