Fiber-to-apparel industry chain exports increase in Jan and fall in Feb

According to the latest customs data, textile and apparel exports maintained a solid growth trend in January-February, with total exports under Chapters 50-63 increasing by 8% year-on-year. Performance across different segments was relatively strong.

On a monthly basis, the year-on-year growth was mainly concentrated in January, while February saw declines both year-on-year and month-on-month. However, considering the impact of the Chinese New Year, seasonal fluctuations cannot be ruled out entirely.

The chart below illustrates the monthly export volume trends for the three main segments, all of which showed declines in February both year-on-year and month-on-month.

A more detailed breakdown of export performance by chapter in January and February, including year-on-year and month-on-month changes, as well as cumulative year-on-year growth for the two months, supports this conclusion. In February, most chapters saw export volumes decline by about half month-on-month. Even on a year-on-year basis, apart from Chapter 55 (staple fibers) and Chapter 56 (nonwoven fabrics), all other chapters recorded varying degrees of decline.

From an industry perspective, companies reported weaker export orders after the holiday, in stark contrast to the pre-holiday atmosphere. If February's export decline is not purely seasonal, it may further validate this trend.