However, in terms of November alone, China's textile and apparel exports amounted to 20.39 billion US dollars, an increase of 7.2% year-on-year, with the growth rate significantly decreasing by 29 percentage points compared to the same period last year.
Despite the slowdown in the growth rate of textile exports in November being somewhat expected, the extent of the decline was still somewhat surprising. Since June this year, the growth rate of textile and apparel exports has been declining month by month, transitioning from initial minor fluctuations to a steep downward trend: the monthly growth rates for textile exports in the third quarter were 25%, 26.4%, and 14.8% respectively. In September, the rate dropped below 20% for the first time, then fell to 10.4% in October, and further declined to 7.2% in November.
As we approach the end of 2011, the situation for textile and apparel exports remains severe. Affected by weak external demand and rising costs, in November alone, China's textile and apparel exports amounted to 20.39 billion US dollars, increasing by 7.2% year-on-year, with the growth rate dropping significantly by 29 percentage points compared to the same period last year. There are no obvious signs of the typical year-end uptick in exports, and it is likely that the growth rate of textile exports in December will continue to decline. Industry analysts stated that the textile export market is unlikely to see a significant recovery in the short term.
In November, textile exports amounted to 8.03 billion US dollars, while apparel exports reached 12.36 billion US dollars, increasing by 13.6% and 3.5% year-on-year respectively.
The signs of the usual year-end uptick are currently rather weak, and it is possible that the growth rate of textile exports in December will continue to decline, making it very difficult to reverse the current situation. Industry analysts stated that, given the economic situation, consumer markets at the beginning of next year will not be very optimistic, and the textile export market is unlikely to experience a significant recovery in the short term.
Customs statistical data shows that the growth rate of China's textile and apparel exports in November was only 7.2%, marking the first time within the year that the growth rate fell below double digits, approaching the bottom. This rate is also lower than the overall export growth rate of foreign trade in November, which stood at 13.8%.
According to customs statistics, from January to November, China's cumulative exports of textiles and apparel reached 226.15 billion US dollars, increasing by 21.2% year-on-year, with the growth rate falling by 3 percentage points compared to the same period last year. Among these, textile exports amounted to 86.37 billion US dollars, growing by 23.9%, while apparel exports reached 139.78 billion US dollars, increasing by 19.6%.
The single-month export growth experienced a "big drop."