Textile and clothing export opportunities are vast
From January to July 2021, China’s cumulative exports of textiles and clothing declined year-on-year, but still showed a growth trend compared with the same period in 2019. Among them, China’s textile and apparel exports in July showed a year-on-year decline and month-on-month growth.
Industry insiders believe that although the current growth rate of China’s textile and apparel exports is slowing down, in the long term, under the influence of multiple positive factors, there are still broad market opportunities for China’s textile and apparel exports.
From January to July 2021, China’s textile and apparel exports totaled 1.09021 billion yuan, a year-on-year decrease of 0.93% and an increase of 5.5% over the same period in 2019. Textile and clothing exports in July were 181.39 billion yuan, a year-on-year decrease of 18.24%, a month-on-month increase of 1.82%, and a decrease of 4.21% from the same period in 2019. Among them, textile exports were 75.06 billion yuan, a year-on-year decrease of 33.73%, a month-on-month decrease of 6.90%, and a month-on-month increase of 1.30%; clothing exports were 106.33 billion yuan, a year-on-year decrease of 2.08%, a month-on-month increase of 9.03%, and a month-on-month decrease of 7.76%. %.
“In July this year, the global epidemic recurred, the epidemic in Europe, the United States and Japan escalated again, the epidemic in India was severe, and the epidemic in Brazil was slowly improving. The supply capacity of the global textile industry chain and supply chain was weakened. Some Southeast Asian orders returned to China, and drove the performance of the domestic textile market. Better than the pre-epidemic level.” Liu Jie, an analyst at Zhuochuang Information, said that the four major markets of the United States, ASEAN, the European Union and Japan together account for 55% of China’s total textile exports. In the first half of this year, China’s textile exports to the United States and ASEAN maintained relatively stable growth, while the growth of textile exports to the EU and Japan relatively slowed or declined.
Specifically, from January to June, China’s textile and apparel exports to the United States reached US$25.31 billion, a year-on-year increase of 12.8% and an increase of 19.4% over the same period in 2019.
China’s textile and apparel exports to ASEAN were US$22.73 billion, a year-on-year increase of 36% and an increase of 23.5% over the same period in 2019. Among them, the export value of key commodities yarn fabrics increased by 40.8% year-on-year and 6.9% compared with 2019. ASEAN’s share of China’s textile and apparel export market has further increased to 15.8%, an increase of 2.4 percentage points from 2020, surpassing the EU for the first time.
China’s textile and apparel exports to the EU reached US$21.22 billion, a year-on-year decrease of 19.1%. The average monthly decrease in the second quarter was as high as 43.2%, which was mainly driven by the rapid reduction of epidemic prevention materials. In the second quarter, medical supplies to the EUMasksand protective clothing exports combined fell by 94%. The export value of key commodities, needle-woven garments, increased by 24.5%, an increase of 3.7% compared with 2019.
China’s textile and apparel exports to Japan were US$9.65 billion, a year-on-year decrease of 8.2% and an increase of 6.6% over the same period in 2019.
According to research by Zhuochuang Information, currently, Chinese textile companies generally report that orders are relatively sufficient. Some companies have placed orders until around mid-September, and product inventories are low. However, difficulties and challenges such as rising prices of raw and fuel materials and high shipping logistics costs have increased operating pressure on enterprises and squeezed their profit margins. In addition, global inflation pressure is high, expectations of the Federal Reserve raising interest rates are rising, and there is still uncertainty about the development of the epidemic. Textile companies are cautious in accepting orders and generally have a wait-and-see attitude towards the later export situation. Raw materials are often harvested as they are used.
Liu Jie analyzed, “In the short term, the traditional peak season of ‘Golden Nine and Silver Ten’ is about to come, and the epidemic in Southeast Asia is still not under control. China’s textile and apparel exports are still expected to maintain steady growth in the first eight months, but due to the high base period, The year-on-year decrease in August may also be more obvious. In the long term, with the formal entry into force of the Regional Comprehensive Economic Partnership (RCEP) and the ‘Belt and Road‘ trade volume continues Affected by positive factors such as growth, China’s textile and apparel international market share is expected to continue to consolidate, and China’s textile and apparel industry still has great potential.”
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