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According to relics and traditional arts of Chinese culture, Chinese clothing comprises both the traditional hanfu and contemporary versions of indigenous Chinese clothes. Chinese apparel has been influenced by both foreign influences and its own dynastic traditions.
More over half of the world’s textile and clothing output and exports came from this nation. The apparel industry in China has, however, slowed down its growth in recent years in an effort to create a more technologically advanced and environmentally friendly sector.
The China apparel market accounted for $XX Billion in 2021 and is anticipated to reach $XX Billion by 2030, registering a CAGR of XX% from 2022 to 2030.
China’s market share in the worldwide market for garment exports has decreased as a result of the shifting nature of global sourcing, and this decline is projected to continue over time. Due to COVID-19, China’s exports of clothing decreased. .
What’s more alarming is that China’s apparel exports to the US, its main export market, have astonishingly decreased over the past few years, causing China’s proportion of US apparel imports to fall. Chinese apparel shipments are indicative of the situation of “Unit Prices.”
The same has shown a substantial fall ; that is decline in unit prices and is obviously an upsetter giving market share to the competitors.
The World Trade Organisation (WTO) estimates that the value of global apparel imports comes from the EU apparel market, which is the world’s largest individual apparel importer. Even in this area, China is losing control, and a pattern is beginning to emerge as a result of uncertain factors.
Supply chains are forced to make plans to relocate their manufacturing facilities from China to other competitive geographic regions where government incentives/sops like taxes and labour prices/arbitrage make sourcing relatively less expensive as manufacturing costs in China keep growing.
The US’s ban on Chinese cotton due to allegations of unethical behaviour in the country’s Xinjiang area cost the Chinese textile and apparel (T&A) manufacturing industry some of its goodwill.
