What Does The "Double Drop" Of Textile And Garment Export Growth Rate In July Explain

According to the statistics of the General Administration of Customs of China, the export volume of China's textiles (including textile yarns, fabrics and products) in July 2021 was US $11698.2 billion, a decrease of US $4278.7 billion or 26.78% compared with the same period in 2020; In July 2021, the export volume of clothing (including clothing and accessories) was US $16.575 billion, an increase of US $1.257.5 billion compared with the same period in 2020, with an increase of only 8.21%. From January to July in 2021, China's textile exports amounted to US $80.252.9 billion, down 10.8% year-on-year; From January to July, China's cumulative export of clothing reached 88.098 billion US dollars, a year-on-year increase of 32.9%. In July, the growth rate of textile and clothing export not only decreased compared with the cumulative export volume from January to July, but also decreased from June.

Some textile and clothing enterprises in Guangdong, Jiangsu and Zhejiang provinces and other coastal areas believe that the price of cotton and cotton yarn rose sharply in June / July, while the bargaining power of terminal domestic and foreign sales orders was relatively low, grey cloth / fabric / clothing / foreign trade companies were under attack, and many exports were faced with the dilemma of "making a lonely living", and the enthusiasm of receiving, arranging and delivering orders was not high. At the same time, shipping charges and surcharges continue to rise, and containers are extremely tight (especially in North America and Europe, where there is a serious backlog of goods at ports), the buyer and the seller coordinate the delay of shipment and delivery on the one hand; On the one hand, negotiate to share the rising freight pressure. In addition, the US inflation continued to exceed expectations in June, and the US Federal Reserve "faced pigeons and hawks"; The European Central Bank continues to maintain a loose monetary policy, so the probability of US dollar rebound in the third and fourth quarters of 2021 is still high, and the pressure of RMB devaluation is great. European and American buyers not only cut prices more severely, but also slow down the orders for Christmas.