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

According to the statistics of China's customs, the export of clothing decreased by 19% in the first half of the 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. Clothing retail sales in the United States and the European Union surged 18% month on month in May respectively Retail sales increased by 130.7% compared with that of Japan, with a month on month increase of 130.7%. 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.

In the second half of the spring, many clothing brands are expected to cancel part of the autumn sales due to the large fall sales orders. Nike said it had canceled about 30% of its factory orders before the fall and end of the year shopping season. H & M said some of its stock will be sold over 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 clothing in the fall. Therefore, it is expected that China's exports in the third quarter will not improve significantly.