China's apparel exports to Russia up; fabric down in Jan-March

Fibre2Fashion's market insight tool TexPro provides an insight about present status of textiles and garment trade of both countries. China exported apparel to Russia worth $690.920 million in January-March 2024, which was 4.6 per cent higher than the shipment of $660.537 million in the corresponding period of the last year. The shipment to Russia was 2.17 per cent of China’s total apparel exports of $31.810 billion in the first quarter of the current year. Russia was the 11^th largest apparel market for Chinese exports.

Russia’s share was just 1.76 per cent in China’s total fabric exports of $15.482 billion in the first quarter of the current year. The shipment was noted at $272.462 million in January-March 2024. It was 6.73 per cent lower than the shipment of $292.111 million in the same period of the last year.

As per TexPro, last year, Russia was the 11th largest market with 2.40 per cent share of China’s total apparel exports of $147.430 billion. In 2023, China’s apparel exports were valued at $3,532.341 million, which was 24.57 per cent higher than the shipment of $2,835.534 million in 2022. The trade was noted at $3,361.365 million in 2019. It had dipped 17.17 per cent to $2,784.125 million in 2020, but recovered 7.53 per cent to $2,993.851 million in the following year. China’s apparel exports to Russia eased 5.29 per cent to $2,835.534 million in 2022 when war broke out between Russia and Ukraine.

Russia’s share was 1.89 per cent in China’s total fabric export of $65.817 bn in 2023 when the shipment was valued at $1,243.362 million. It was 11.63 per cent higher than the exports of $1,113.838 million in 2022. Fabric shipment from China to Russia was noted at $822.230 million in 2019. It eased 5.46 per cent to $777.299 million in COVID year 2020. After the pandemic, the trade bounced back 28.02 per cent to reach at $995.101 million in 2021. It further inched up by 11.93 per cent to $1,113.838 million in 2022.

Fibre2Fashion News Desk (KUL)