In 2023, China's exports of garments excluding knitwear and crochet stood at 189.2 billion US dollars. From 2024 to 2028, forecasts show a steady increase in export value from 205.37 to 281.91 billion US dollars. This results in year-on-year increases: 9.4% in 2024, 9.5% in 2025, 8.5% in 2026, 7.8% in 2027, and 7.2% in 2028. Over this five-year period, the compound annual growth rate (CAGR) is approximately 8.5%.
Future trends to watch for:
- Shifts in global trade policies affecting China.
- Technological advancements in garment manufacturing enhancing productivity.
- Rising demand for sustainable and ethically produced fashion.
- Potential impacts of geopolitical tensions on export capacities and markets.
