Recently, the Chinese customs authority released full updated data on the import and export of cashmere and cashmere products in China for the year 2022. This data provides valuable insights into the state of the global cashmere market and its future prospects.
The data shows that China’s total export value of cashmere and cashmere products in 2022 was $2.5 billion, which was slightly higher than the previous year. The primary export destinations for Chinese cashmere products were the United States, Japan, and the European Union. Raw cashmere, yarn, and finished products such as clothing and accessories were the primary exports, reflecting China’s position as a major producer of cashmere products.
In contrast, China’s cashmere and cashmere product imports in 2022 decreased slightly compared to the previous year, with a total value of $1.8 billion. The primary sources of imported cashmere were Mongolia, Iran, and Afghanistan, and the main imported products included raw cashmere and semi-finished products.
Looking ahead, the data predicts continued growth in the cashmere market in 2023. One trend expected to continue is the growth of e-commerce as a sales channel for cashmere products. This trend was already evident in 2022, with many Chinese companies leveraging online marketplaces to sell their cashmere goods to global customers.
The data also highlights the importance of sustainability and ethical practices in the cashmere industry. As consumers become increasingly concerned about the environmental impact of their purchases, companies will need to adopt sustainable production methods and ensure that their cashmere products are ethically sourced.
Finally, the data notes that China’s domestic cashmere market is also likely to experience growth in 2023. As the country’s middle class continues to expand, there is expected to be an increased demand for high-quality, luxury goods such as cashmere products.
