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The decline in exports narrowed in September.

With the precise development of various domestic policies, go deep and go solid, textile and garment enterprises take the initiative to seek new progress and cope with difficulties, and textile and garment exports as a whole stabilized in September, the decline narrowed, and showed a positive development trend. Textile and garment exports fell 6.5% year-on-year in the same month, narrowing 3.7 percentage points from the previous month and narrowing for the second consecutive month. In the first three quarters, textile and garment exports reached US $223.1 billion, narrowing the cumulative decline to 9.5%. On a quarterly basis, exports in the first, second and third quarters of this year were 651, 776 and 81.1 billion US dollars, down 9.7%, 7.8% and 12% respectively.

In September, China's textile and garment trade has the following highlights:

First, exports to the US stopped falling and rebounded. Exports to the United States rose 6.8 percent this month from a year earlier, the second monthly increase so far this year and the biggest. Second, market diversification continued to advance, this month the United States, the European Union and Japan accounted for 35.1% of China's exports, other markets accounted for nearly 65%, 152 "Belt and Road" countries accounted for 52.3%; Third, the export volume of the four major export products such as yarn, fabric, home textiles and needle-woven clothing all increased, although the export price is still falling, but the decline has narrowed compared with the previous month; Imports in the third quarter returned to positive growth for the first time after six consecutive quarters of decline, rising 2.9 percent in the quarter and 2.3 percent in September. Among them, mainly the import of textile intermediate products has maintained continuous and rapid growth, and is mainly driven by the quantity growth, indicating that the demand for replenishment of enterprises for production is gradually recovering, indicating that the export of downstream products will further stabilize.

Looking forward to the fourth quarter of this year and the future period, China's textile and garment exports still have the following positive factors:

First, the intensity and pace of the country's opening up continues to increase, and the acceleration of economic stability and foreign trade policies will provide a strong guarantee for textile and garment exports; Second, the recent frequent high-level exchanges and interactions between China and the United States are of great significance for the two sides to effectively manage differences and prevent the deterioration of bilateral relations. They will also bring confidence to the businesses and markets of the two countries and help them maintain their old markets and customers. Third, the introduction and implementation of the eight initiatives under the Belt and Road Initiative will provide a strong impetus for the diversification of export markets and help enterprises to explore new markets and develop new customers. The eight initiatives introduced at the Third Belt and Road Forum for International Cooperation in October include speeding up the high-quality development of China-Europe freight trains, creating a pilot zone for Silk Road E-commerce cooperation, and negotiating and signing free trade agreements with more countries. These practical measures will bring broad opportunities for enterprises. Fourth, the traditional market economy, especially the US market economy is still resilient, core inflation pressure has eased, non-durable goods continue to be destocked, and import demand has recovered.

The adverse factors affecting the export growth in the next stage should still be paid attention to.

The problems of insufficient macro-aggregate demand and lack of confidence of micro-subjects have not been fundamentally solved, and the practical difficulties faced by export enterprises are still many. Europe is still not out of the economic trough, Japan's economic recovery has slowed down, and the willingness to spend is insufficient. The external situation is unstable, the smoke of the Russian-Ukrainian war has not been lifted, the Palestinian-Israeli conflict has flared up again, the international economic and trade situation is changing again, the dollar exchange rate is strong and the international energy prices are rising, driving the upstream raw material prices of textile and apparel to rise, increasing the cost of manufacturing enterprises. Recently, the United States accelerated the "nearshore" layout of the supply chain and expanded the procurement of the United States, Canada and Caribbean countries, further suppressing our export share.

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