Is the world ending dependence on China for apparel and textile trade? China’s statistics say NO, contrary to speculations!

2020 has been a tough year for global apparel trade as well as fashion retail industry. The pandemic has created an uncertainty in the market and has restricted consumer spending which is making a huge dent on the revenues of fashion retailers, severely hurting the entire fashion supply chain. Amid all this, the already triggered trade war between USA and China, coupled with virus origination, has impacted the world’s largest apparel exporter China, which has given birth to thousands of speculations about apparel buyers shifting from China to other destinations! Is this that easy to speculate that the world is moving away from China which is heavily dependent on it in terms of apparel trade? What does the increasing imports and apparel retail sales of China indicate for its partner countries? The official August statistics of the Chinese agencies give a thorough answer to all these predictions. According to data, China has surged in its apparel imports and exports in August ’20 as against August ’19, while for the first time since January ’20, the country also noted growth in its apparel retail revenues in August ’20 on the yearly note. For more insights, click @ Apparel Resources