Zhejiang apparel exports fell by 4.6% year-on-year and foreign trade increased by 0.8%

Yesterday, Hangzhou Customs announced the import and export of foreign trade in Zhejiang for the first 8 months. According to statistics, in the first eight months of this year, the total value of foreign trade import and export reached 204.18 billion U.S. dollars, a year-on-year increase of 0.8%, which is lower than the national average growth rate of 5.4 percentage points, and the value of imports and exports ranks fifth among all provinces and cities in the country.

“Prices are rising now, orders are not profitable, and more is done thanks to it.” Mr. Xie, the owner of a sports and leisure apparel company in Xiaoshan, Hangzhou, has newly received a foreign trade list, but is still frowning. “The price of cotton has recently risen. Foreign customers expressed their understanding, but there was little room for price increases, because the other side of the market was in a sluggish state. This list was basically not profitable."

Among them, the first 8 months of Zhejiang export 145.59 billion US dollars, an increase of 2.5%, lower than the national average growth rate of 4.6 percentage points; the first 8 months of imports of 58.59 billion US dollars, a year-on-year decrease of 3.1%.

However, the situation in August was relatively optimistic. According to statistics, in August of this year, the total foreign trade value of Zhejiang's imports and exports reached 27.33 billion U.S. dollars, a year-on-year decrease of 5.6%, and an increase of 0.33%. Among them, the export volume of 20.16 billion U.S. dollars for the month of August was the third time that the export value of Zhejiang's single month exceeded the 20 billion U.S. dollar mark this year. At the same time, both the import and export value and the export value in August were the second highest in the year. As the “main force” of Zhejiang’s foreign trade import and export enterprises, the private enterprises achieved import and export of US$115.57 billion in the first eight months, a year-on-year increase of 5.1%, which was 4.3% higher than the average growth rate of the province’s imports and exports and accounted for the province’s total import and export value. 56.6%.

Specifically on export commodities, customs statistics show that the export performance of mid-range manufacturing products such as home appliances, furniture, and lamps in Zhejiang Province is relatively good, and exports of textile and clothing, footwear, and high-tech products are still sluggish. In the first eight months, Zhejiang exported furniture, household appliances and lamps to US$5.33 billion, US$3.65 billion and US$2.1 billion, respectively, which were 9.2%, 12.3% and 18.7% higher year-on-year respectively. During the same period, Zhejiang exported 20.68 billion U.S. dollars worth of textile yarns and fabrics, an increase of 0.23% year-on-year; exports of apparel and footwear totaled 18.57 billion U.S. dollars and 4.99 billion U.S. dollars, down 4.6% year-on-year and 2.1% year-on-year; and exported high-tech products worth 9.94 billion U.S. dollars. The year-on-year decrease was 3.2%.

Experts stated that to improve the competitiveness of our province's foreign trade enterprises, we must unswervingly support enterprises to go global, encourage enterprises to enter the upper reaches of the industrial chain, improve the control and deployment of global resources, and second, improve intellectual property rights. Based on the degree of protection, we encourage technology research and development, technological innovation and brand building. Third, we will introduce tax reductions, burden reductions and equal opportunities for development and support policies.

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