June exports surged 14.3% month-on-month, pulling the first-half textile trade data back into growth territory. According to the latest General Administration of Customs data, China's total textile and apparel exports from January to June 2026 reached $145.96 billion, up 1.4% year-on-year. Behind this seemingly flat semi-annual report card lie vastly different survival pictures across the supply chain.
June Turning Point: Autumn-Winter Stocking and Currency Fluctuations
June exports hit $29.27 billion, up 7.2% year-on-year and an impressive 14.3% month-on-month. Textile exports alone reached $13.52 billion, surging 12.2% year-on-year; apparel exports hit $15.75 billion, jumping 21% month-on-month. The overseas autumn-winter stocking wave was the core driver of this rebound.
Data in RMB terms revealed another layer of pressure. Cumulative textile and apparel exports in the first half totaled 1.01222 trillion yuan, down 2.2% year-on-year. Currency fluctuations directly eroded exporters' paper profits. Textile exports reached 506.42 billion yuan, down only 0.1%, showing the resilience of upstream intermediate goods; apparel exports hit 505.8 billion yuan, down 4.2%, putting greater pressure on garment manufacturers' margins.
June saw a synchronized recovery in RMB terms, with monthly exports of 200.25 billion yuan. The fabric segment performed particularly well. Although apparel exports fell slightly year-on-year, the over 20% month-on-month increase confirmed that real overseas purchasing demand remains, just delayed in timing.
Market Divergence: US Alone Drives Growth, Traditional Markets Sluggish
Export data from the first five months clearly maps the cracks in global demand patterns. The US market emerged as the biggest growth engine in the first half, with China's textile and apparel export growth to the US expanding 15 percentage points year-on-year. The China-US summit stabilized bilateral trade expectations, and with overseas brands completing inventory destocking, buyers accelerated their shift to Chinese supply chains.
The EU, Japan, and South Korea remained persistently weak. The EU is mired in inflation caused by high energy costs, dampening consumer willingness to spend on clothing; ASEAN, Japan, and South Korea saw reduced imports from China due to regional tensions and rising energy prices. The temporary easing of Middle East tensions and falling shipping costs served as short-term positives for June exports.
Product Structure: Upstream Intermediates Show Resilience, Garment Sector Under Pressure
Disaggregated data from the first five months reveals a stark upstream-downstream divergence. Yarn exports grew 6.6% year-on-year, fabric exports fell only 0.5%, and finished textile product exports rose 2.6%. In contrast, apparel and clothing accessory exports fell 1.6%.
The logic is clear: overseas brands have shifted to low-inventory operations, reducing large long-term garment orders and instead purchasing semi-finished goods like yarn and fabric more frequently. China's complete supply chain—from chemical fiber, spinning, dyeing to finished products—offers delivery efficiency and product quality that other regions cannot easily replicate. This is the core support for sustained upstream growth. The garment OEM track has lower barriers, facing international capacity diversion and price competition, and this pressure is unlikely to ease soon.
Outlook: External Challenges Remain, Industry Foundation Solid
The global economic environment remains uncertain. The World Bank warns that the triple pressures of rising energy prices, high inflation, and tightening overseas monetary policy will continue to suppress global consumption growth. Weak recovery in European and American end-user demand, persistently high production costs, and capacity competition from fragmented global trade patterns will continue to test industry players.
However, the H1 2026 textile and apparel trade pattern of 'stable volume, structural divergence, and month-end recovery' also points the way for transformation. The era of relying on low prices and high volume for rough export is over. A complete supply chain, product innovation, and diversified global deployment are the core levers for navigating the cycle.