Import growth outpacing export growth for consecutive months is a signal that deserves more attention from the textile industry than the export figure itself. According to data released by the General Administration of Customs on September 8, China's total goods trade reached RMB 34.78 trillion in the first eight months of 2026, up 17.6% year-on-year. Exports stood at RMB 20.17 trillion, growing 14.6%, while imports reached RMB 14.61 trillion, up 22%. In August alone, total trade amounted to RMB 4.65 trillion, an increase of 19.8%, with both exports and imports maintaining double-digit growth for four consecutive months. For the textile sector, the vitality on the import side indicates an accelerating pace of procurement for upstream raw materials, equipment and intermediate goods, which directly affects capacity release and cost structures in the coming quarters.
Trade Structure Shifts and Textile Linkages
In terms of trade modes, processing trade grew 26.4% and bonded logistics expanded 42.3%, both far exceeding the overall growth rate. The rebound in processing trade is particularly noteworthy — it typically corresponds to a closed-loop model of raw material imports and finished product exports, which is especially typical in textiles and apparel. The high growth in bonded logistics reflects that enterprises are more actively using bonded warehousing for inventory adjustment and re-export trade, a rational risk management approach amid heightened currency volatility.
Regarding trade partners, trade with ASEAN grew 20.6%, while imports and exports with Belt and Road countries increased 15.9%. ASEAN, as a key destination for textile supply chain relocation, is seeing rising trade activity, meaning the flow of yarn, fabric and accessories between China and Southeast Asia is accelerating. Some Chinese textile enterprises have positioned weaving or garment-making stages in Vietnam, Cambodia and elsewhere, but upstream fabrics and yarns still rely on domestic supply. This cross-border division of labor is being confirmed by the data.
Transmission Through the Supply Chain
Import growth consistently exceeding export growth has a layered impact on the textile industry. For upstream chemical fiber and yarn enterprises, if import growth includes large volumes of petrochemical raw materials and primary polymers, cost competition pressure on domestic chemical fiber firms may ease somewhat, but it also means overseas raw material suppliers are accelerating their capture of the Chinese market. For midstream fabric and dyeing enterprises, the processing trade rebound is a positive signal for order visibility, but it should be noted that processing trade often corresponds to lower value-added segments with limited profit margins.
For downstream apparel exporters, while export growth of 14.6% is not low, it is below the overall trade growth rate and below import growth, indicating that the competitive environment for apparel exports remains severe. The divergence between high-growth mechanical and electrical product exports and stable textile and light industrial exports suggests that demand elasticity for textiles and apparel in international markets is relatively limited, and price competition remains the primary tool. The triple risks of overseas market divergence, trade friction and currency volatility have not subsided; they are merely masked by the overall recovery in foreign trade.
Divergent Responses Across Regional Industrial Clusters
The performance of textile clusters such as Keqiao, Shengze and Nantong will diverge based on product structure. Keqiao, dominated by chemical fiber fabrics, may see its price advantage strengthen if imported raw material costs decline, but it simultaneously faces substitution pressure from localized chemical fiber capacity in Southeast Asia. Shengze's differentiated fiber and functional fabric enterprises are more likely to benefit from intermediate goods demand brought by the processing trade rebound. The Nantong home textile cluster has a high dependence on bonded logistics, and the 42.3% growth in bonded logistics is a direct positive for its inventory turnover and export delivery.
It is worth noting that trade with Belt and Road countries grew 15.9%. Although below the overall growth rate, the absolute increment remains considerable given base effects. Demand for textiles in Central Asia, Central and Eastern Europe, and Africa is migrating from low-end to mid-range, which means domestic fabric enterprises need to upgrade their product development and certification systems in tandem.