China's share effect combined with the total effect has jointly boosted the high-growth export data

Exports of textiles and apparels amounted to US$285.29 billion in Jan-Nov 2021, up 7.7% y-o-y. It marked an increase of 15.56% percent from the 2019 level and grew faster than expected for the second straight year. The continuous higher-than-expected export growth was the result of both the surging overseas consumer demand and returning production orders. Thanks to the American Rescue Plan in March, the consumer demand of US residents has greatly stimulated. At a time when the consumption of services has been hampered by the pandemic, a large amount of demand poured into the consumption of goods, resulting in particularly strong demand in overseas markets. Meanwhile, the problem of resumption of work and production caused by the pandemic in Southeast Asian countries has brought textile and apparel orders back to China, and China's share effect combined with the total effect has jointly boosted the high-growth export data in 2021.