The analysis of clothing exports in the first quarter has been released, and the latest tariff adjustments will have a dual effect in the near future

According to statistics from the General Administration of Customs, from January to March, China's cumulative exports of clothing (including clothing accessories, the same below) amounted to 33.01 billion US dollars, a year-on-year decrease of 1.9%, and a significant narrowing of the decline compared to the previous month. In each month of the first quarter of this year, China's clothing exports fluctuated greatly. From January to February, exports decreased by 6.9% year-on-year due to the combination of the Spring Festival holiday and last year's high base factors. In March, China's clothing exports resumed positive growth, with a year-on-year increase of 9.3%.

The export quantity has increased, but the price has significantly fallen
From January to March, woven clothing exports amounted to 14.17 billion US dollars, a year-on-year decrease of 2.1%; The export quantity was 3.33 billion pieces, an increase of 9.2%; The export unit price decreased by 10.3%. Knitted clothing exports amounted to 14.56 billion US dollars, a decrease of 2.8%; The export quantity was 5.31 billion pieces, an increase of 9.5%; The export unit price decreased by 11.2%. The export of clothing accessories reached 3.1 billion US dollars, a year-on-year increase of 1.3%.

Recovery of imports in developed markets
From January to March, the demand for clothing in developed economies continued to recover. The United States imported $23.72 billion worth of clothing, a year-on-year increase of 11.4%, Japan imported $6.5 billion worth of clothing, a year-on-year increase of 6.7%, and Canada imported $3.16 billion worth of clothing, a year-on-year increase of 10.4%; Australia imported clothing worth 2.387 billion US dollars, a year-on-year decrease of 2.7%.
From January to February, the EU imported clothing worth 16.98 billion US dollars, a year-on-year increase of 17.6%; The UK imported clothing worth 3.38 billion US dollars, a year-on-year increase of 6.7%; South Korea imported clothing worth 2.09 billion US dollars, a year-on-year decrease of 3%.
Cambodia's exports are growing rapidly
From January to February, Vietnam exported clothing of US $5.31 billion, up 7.5% year on year, Türkiye exported clothing of US $2.86 billion, down 5.7% year on year, and Cambodia exported clothing of US $1.75 billion, up 26.5% year on year. Indonesia exported clothing worth 1.56 billion US dollars, a year-on-year increase of 7.3%.

Recently, the International Monetary Fund has lowered its global economic growth forecast for 2025 to 2.8% and for 2026 to 3%. The forecast also shows that the US economic growth rate in 2025 will only be 1.8%, a sharp drop of nearly 1 percentage point from January's expectations, with half of the decline directly attributed to tariff policies. According to the latest Global Trade Outlook and Statistics report released by the World Trade Organization, the global commodity trade volume is expected to decrease by 1.5% by 2025.
On May 12th, China and the United States jointly issued the "Joint Statement of the China US Geneva Economic and Trade Talks", reducing the total tax rate of 145% imposed by the United States on Chinese goods to 30% from April 9th. The tariff adjustment is expected to have a dual effect in the near future: on the one hand, it will help stabilize the scale of China's export orders to the United States and reduce the cost burden on export enterprises; On the other hand, it can temporarily alleviate the inflationary pressure in the US market caused by high tariffs. However, it needs to be recognized that the deep-seated structural differences and competitive situation in the economic and trade relations between China and the United States remain the fundamental limiting factors for the future development of bilateral trade. The economic and trade frictions between China and the United States are still in a game process, and the international trade environment is shifting from liberalization and marketization to management and security.
Faced with the complex and ever-changing international market environment, the China Chamber of Commerce for Import and Export of Textiles believes that we need to maintain strategic determination and steadily consolidate our traditional advantages; We must take the initiative to seek change, with diversified global market layout and technological innovation breakthroughs as the dual engines, and achieve a leapfrog development from "Made in China" to "Made in China" in adversity. The ability to cultivate new opportunities in crisis and open up new opportunities in changing situations is the core competitiveness of China's clothing industry for sustainable development.