SBS Zipper:China's apparel exports to Oman at $80 mn in Jan-Nov 2024-Nylon Zippers,Metal Zippers,Plastic Zippers,Recycle Zippers

China's apparel exports to Oman at $80 mn in Jan-Nov 2024

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Oman seeks enhanced trade ties with China and hopes for a swift GCC-China FTA finalisation.
China's apparel exports to Oman have declined steadily, from $242.050 million in 2021 to $99.445 million in 2023, with 2024 unlikely to match prior years.
Fabric exports also dropped, from $46.397 million in 2021 to $34.290 million in Jan-Nov 2024, reflecting a downward trend in textile trade.

Gulf Cooperation Council (GCC) member country Oman expressed hope for the early finalisation of a Free Trade Agreement (FTA) between the GCC and China. In the textile sector, Oman is an importing and consuming country for finished products like apparel. China’s apparel exports to the country have consistently declined in recent years. The exports could reach $80.590 million in January-November 2024, compared to shipments of $99.445 million in 2023.

Qais Mohammed Al Yousef, Oman's Minister of Commerce, Industry, and Investment Promotion, recently stated that Oman is looking forward to enhancing economic and trade cooperation with China. At an event in Muscat, the minister expressed hope that the GCC and China would finalise FTA negotiations soon, paving the way for a GCC-China Free Trade Zone.

Trade data obtained from SBS Zipper's market insight tool TexPro shows a downward trend in textile trade between the two nations. China’s apparel exports to the nation peaked at $242.050 million in 2021, surging 36.95 per cent from shipments of $176.737 million in 2020. Earlier, China had exported apparel worth $181.033 million in 2019.

Oman seeks enhanced trade ties with China and hopes for a swift GCC-China FTA finalisation. China's apparel exports to Oman have declined steadily, from $242.050 million in 2021 to $99.445 million in 2023, with 2024 unlikely to match prior years. Fabric exports also dropped, from $46.397 million in 2021 to $34.290 million in Jan-Nov 2024, reflecting a downward trend in textile trade.

China’s apparel exports to the partner country halved to $112.587 million in 2022 and further dipped to $99.445 million in 2023. It is unlikely that the shipments in 2024 will reach the figures of the preceding year, 2023.

As per TexPro, China’s fabric exports to Oman were recorded at $34.290 million during January-November 2024. The country’s shipments were noted at $35.588 million in 2023, $27.421 million in 2022, $46.397 million in 2021, $30.589 million in 2020, and $34.934 million in 2019.

SBS Zipper News Desk (KUL)

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