Clothing exports in Nantong, Jiangsu province have fallen sharply

Since the beginning of this year, garment exports in Nantong have recovered with the recovery of the global economy, but many uncertainties have led to a lack of strength and a decline. According to statistics from the Nantong Inspection and Quarantine Bureau, from January to October this year, a total of 326,583,100 garments (sets) were exported in Nantong, with a value of $172,422,100, an increase of 22.50% and 22.64% respectively. Export garments are mainly cotton garments and are exported to Japan, the European Union, the United States, Australia, Singapore and Hong Kong and other countries and regions.

Statistics show that in April of this year, Nantong exported 43.372 million pieces of clothing (sets) with a value of 221.5114 million US dollars. Afterwards, the fluctuations in all directions decreased. In October, the export volume and value of clothing fell to 30.728 million units (sets) and 172.878 million US dollars, respectively. However, its average unit price has oscillated higher and each piece has risen from 5.11 US dollars to 5.63 US dollars.

According to analysis by industry insiders, the main reasons for the decline in clothing exports in Nantong are: First, the appreciation of the renminbi and the lack of sewing workers have weakened our country’s comparative advantages. Foreign merchants have turned orders to Vietnam or other countries or regions where processing costs are relatively low. Caused the market to shrink; Second, the cost pressure caused by the skyrocketing cotton prices, making garment export companies more cautious, afraid to take orders, production is affected.