In Aug, trade data of European Union

In August, exports to the European Union increased by 14%, with a cumulative export growth of 2.2% from January to August.

On August 30th, the European Statistical Office released data, and according to preliminary estimates, the annual inflation rate in the Eurozone for August 2024 is expected to be 2.2%, lower than the 2.6% in July. Inflation in the Eurozone has fallen, commodity demand has recovered, and my exports to the European Union have resumed growth despite last year's low base.

In August, China exported textile and clothing worth 4.11 billion US dollars to the European Union, a year-on-year increase of 14%. From a country-by-country perspective, the growth in exports to the European Union mainly comes from exports to Germany, Spain, the Netherlands, France, and Italy. In August, China exports to these five countries amounted to $1.82 billion, $13.7 billion, $13.2 billion, $1.14 billion, and $1.01 billion, with growth rates of 24%, 11%, 21%, 16%, and 9%, respectively. From the perspective of products, the export of needle woven clothing to the European Union in August was 2.53 billion US dollars, a year-on-year increase of 12%. Among them, the export quantity increased by 20.3%, and the export unit price decreased by 6.9%. The increase in export value mainly came from the increase in export volume. From cumulative data, from January to August, I exported textiles and clothing worth 27.2 billion US dollars to the European Union, a year-on-year increase of 2.2%; The export value of the main product, needle woven clothing, was 16.21 billion US dollars, a decrease of 0.6%. The export quantity increased by 7.6%, and the export unit price decreased by 7.6%. According to EU import data, the EU imported textiles and clothing worth 11.26 billion US dollars in July, a year-on-year increase of 0.5%. The top three import sources are China, Bangladesh and Turkey, with the import volume of US $3.63 billion, US $1.73 billion and US $1.37 billion, accounting for 32%, 15% and 12% respectively. On a year-on-year basis, imports from China and Bangladesh decreased by 1% and 4.2% respectively, and imports from Turkey increased by 9%.

Data from CCCT