China’s garment & textile exports grow in 2020 despite pandemic.

China’s garment and textile exports surged 9.60 per cent in 2020 to US $ 291.23 billion, according to the official data made available by the General Administration of Customs, China (GACC). Of total exports value, textile exports reached US $ 153.84 billion by growing 29.20 per cent on yearly basis; garment and accessory exports contracted by 6.40 per cent to US $ 137.38 billion. Particularly in December ’20, China’s textile exports grew 12.60 per cent on Y-o-Y basis to US $ 12.30 billion. On the other hand, garment and accessory exports in the final month of 2020 upped by 2.80 per cent on Y-o-Y note to US $ 13.91 billion, of which garments contributed US $ 11.77 billion, marking 2.20 per cent decline on yearly basis. Buoyed by the strong export performance, China’s national GDP increased 2.30 per cent in 2020 as compared to 2019 last year and, in all likelihood, it’s the only major economy to see growth in the pandemic-ravaged year.