In The First Seven Months Of This Year, The Amount Of Clothing Imported From The EU In Shanghai Was Nearly Double That Of Its Export

According to Shanghai Customs, in the first seven months of this year, Shanghai exported 7.04 billion yuan (RMB, the same below) of clothing and accessories to the EU, a decrease of 16.4% over the same period last year; Imports of clothing and accessories from the EU amounted to 13.47 billion yuan, a substantial increase of 99.9% year-on-year. The import value of clothing is nearly double that of export.

For a long time, clothing, as a labor-intensive product, has been one of the main export forces of China. With the development of economy and society, China has become an important market of global brand clothing in recent years. The latest garment trade data between Shanghai and the European Union illustrate this change.

Statistics show that in the first seven months of this year, Shanghai not only imported a large number of garments from the European Union, but also imported 11.2 billion yuan of leather, fur and their products from the European Union, a sharp increase of 94.8% year-on-year.

The direct beneficiaries of Shanghai's clothing import growth are France and Italy. In the first seven months of this year, driven by the clothing trade, Shanghai's import and export to France and Italy reached 61.21 billion yuan and 60.02 billion yuan respectively, up 39.1% and 49.5% year-on-year respectively, which were significantly higher than the average increase of 26% between Shanghai and the EU in the same period.

Customs experts believe that the China International Import Expo, which has been held in Shanghai for three consecutive years, has played an important role in promoting the export of global brand clothing to China. With the help of the Expo platform, more and more clothing brands, even some niche brands, have been able to enter the Chinese market, and the driving force is that Chinese consumers' interest in imported clothing and consumption capacity are increasing year by year.

Closely related to clothing trade, in the first seven months of this year, Shanghai imported 12.52 billion yuan of Cosmetology, cosmetics and toiletries from the European Union, a year-on-year increase of 21.2%.

Thanks to the rapid growth of imports of consumer goods such as clothing and cosmetics, the EU has long maintained its position as the largest trading partner of Shanghai. In the first seven months of this year, Shanghai's import and export with the EU reached 451.58 billion yuan, an increase of 26% over the same period last year, accounting for 20.4% of Shanghai's total import and export value in the same period. Among them, Shanghai's export to EU was 132.35 billion yuan, up 16.6% year on year; Imports from the EU totaled 319.23 billion yuan, up 30.4% year on year; The trade deficit was 186.88 billion yuan, a year-on-year increase of 42.4%.