Outlook for China's garment exports in Q1 2024
Currently, China's clothing exports face three major challenges: firstly, a significant global economic downturn and a sharp decline in external demand; secondly, intensified trade frictions such as "de-Chinanization," accelerating industrial transfer; and thirdly, exchange rate instability, increasing trade risks. Especially since November, the rapid appreciation of the RMB has reached a new high in more than five months and may continue to rise, posing challenges to export companies' order intake and profits next year. From the perspective of major markets, the digestion of US clothing inventories is nearing its end, and imports are expected to rebound; the recovery of the EU and Japanese markets remains bleak; and in Central Asia and Russia, due to the relatively high base last year, market space is limited, and the growth momentum will slow. Although the base for clothing exports in the fourth quarter of last year was relatively low, the outlook remains pessimistic given the multiple pressures.
At the same time, we also see that the upcoming Western holidays such as Halloween, Thanksgiving, and Christmas will lead to a rebound in demand in major consumer markets, bringing a new wave to China's clothing exports. Especially with the empowerment of new foreign trade formats such as cross-border e-commerce and overseas warehouses, clothing companies are embracing new opportunities for overseas expansion.
Leaders from Xiamen C&D Group visited Tongzhou for investigation and guidance
On March 3, Wang Yongqing, Vice President of Xiamen CNOOC Group, visited Tongzhou Group for investigation and guidance. Wei Gangmin, Chairman of our company; Huang Hongyu, President; Li Tao, Vice President; and Zhang Zhiyan, Director of the General Office, met with and participated in a symposium.
Tongzhou Cotton Market Brief, Week 1 of March 2025
1) This week's National People's Congress and the Chinese People's Political Consultative Conference (NPC & CPPCC) in China boosted market expectations for steady growth. In February, the Purchasing Managers' Index (PMI) for manufacturing stood at 50.2%, up 1.1 percentage points from the previous month, indicating a significant improvement in the manufacturing sector.
In 2024, China's dyeing industry saw rapid export growth to ASEAN and RCEP member countries, exceeding the overall export growth rate. However, this growth was accompanied by a decline in prices. From January to December, China's exports of eight major dyeing products to ASEAN totaled 7.908 billion meters, a year-on-year increase of 12.14%, 4.61 percentage points higher than the overall export growth rate, accounting for 23.58% of total exports. The average export price was US\$1.19 per meter, a year-on-year decrease of 2.75%, 0.64 percentage points lower than the overall decline. Exports to RCEP member countries totaled 8.431 billion meters, a year-on-year increase of 11.35%, 3.82 percentage points higher than the overall export growth rate. The average export price was US\$1.17 per meter, a year-on-year decrease of 2.79%, 0.60 percentage points lower than the overall decline.
On February 28, Mr. Huang Hongyu, President of our company, was invited to attend the 2025 Zhangjiagang Cotton Industry Development Conference and, as a guest speaker at the "Xiangshan Roundtable," shared his views on the cotton market and trading opportunities.
Henan Tongzhou Cotton Industry Co., Ltd.
Contact
Henan Tongzhou Cotton Industry Co., Ltd.
Address: 10th Floor, Henan Nongxin Building, No. 19 Commercial Outer Ring Road, Zhengdong New District,Zhengzhou, China
Tel：86037165836206
Email：tongzhou@tongzhoucotton.com
Mobile
CopyRight © 2025 Henan Tongzhou Cotton Industry Co., Ltd.