National textile and apparel exports continue to grow

In April 2016, the total import and export value of national trade in goods was US$299.96 billion, a year-on-year decrease of 5.8%. Among them, exports were US$172.76 billion, down 1.8%; imports were US$127.2 billion, down 10.9%. The trade surplus for the month was US$45.56 billion. From January to April, the total import and export value was US$1.10206 billion, a year-on-year decrease of 9.8%. Among them, exports were US$636.63 billion, down 7.6%; imports were US$465.43 billion, down 12.8%, with a cumulative trade surplus of US$171.2 billion.
In April, the textile and apparel trade volume was US$22.76 billion, an increase of 2.9%, of which exports were US$20.86 billion, an increase of 4.9%, and imports were US$1.91 billion, a decrease of 15.4%. The trade surplus for the month was US$18.95 billion, an increase of 7.5%. From January to April, the textile and apparel trade volume was US$84.72 billion, down 3.7%, of which exports were US$77.5 billion, down 2.7%, and imports were US$7.22 billion, down 12.9%. The cumulative trade surplus was US$70.28 billion, down 1.5%.

1. Exports continue to grow, and the outlook is still dominated by fluctuations.
Under the influence of a low base, textile and apparel exports continued to grow in April, with an increase of 4.9% in the month, a significantly lower growth rate than in March; the downward trend in imports was obvious, and the decline in the month expanded to 15.4%.
Two consecutive months of growth have led to the cumulative decline in exports in the first four months narrowing to 2.7%, and textile and apparel exports have shown overall stabilization. However, since the most important factor, the external market, has not improved significantly, it cannot provide a strong stimulus to export growth. At the same time, the decline in imports, especially textile imports, to a certain extent also indicates that exports will still have twists and turns in the future and will not see sustained rapid growth.
2. General trade methods and market procurement trade ensure export growth.
In April, exports under general trade and other trade methods based on market procurement continued to grow, with increases of 7.4% and 94% respectively. Processing trade and small-scale border trade fell by 18.6% and 20.8% respectively, with still no sign of improvement. From January to April, the cumulative exports of general trade decreased by only 0.2%, other trade methods increased by 42.4%, and processing trade and small border trade decreased by 17% and 26.6% respectively.
3. The performance of exports to major markets is different. The EU and ASEAN are getting warmer, while the United States is declining.
EU – Exports to the EU increased both year-on-year and month-on-month that month.
In April, China’s exports to the EU increased by 10%, of which textiles increased by 10.2% and clothing increased by 9.8%. At the same time, the export value rebounded from March, and the growth rate was relatively large, reaching 37.8%.
Cumulative exports to the EU from January to April were US$13.25 billion, down 5.2%, of which textiles increased by 3.3%, clothing dropped by 8.4%, knitted garment exports fell by 4.4%, and the average export unit price fell by 5.2%.
United States – Exports to the United States fell again, and the unit price of clothing exports maintained growth.
The performance of the U.S. market was unsatisfactory. After a brief increase in March, exports to the United States fell again in April. Exports for the month were US$3 billion, down 3.3%, of which textiles and clothing dropped 9.2% and 0.3% respectively. From January to April, cumulative exports to the United States were US$12.23 billion, down 1%, of which textiles fell by 6.1%, and clothing maintained a growth of 1.1%. The export volume of key commodities, needle-woven garments, increased by 1.5%, and the average export unit price increased by 2.1%.
ASEAN – The ASEAN market shows slight signs of recovery, and the unit price of clothing exports has fallen rapidly.
In the first quarter of this year, the ASEAN market performed poorly. Exports to ASEAN all declined in the first two months. Although there was growth in March, the growth rate was still lower than the average. There were signs of slight recovery in April. Exports to ASEAN that month were US$3.14 billion, an increase of 13.3%, the fastest growing among major markets, with textiles and clothing increasing by 9.8% and 24.1% respectively.
From January to April, China’s cumulative exports to ASEAN were US$10.7 billion, with the decline narrowing to 3.1%, of which textiles increased by 8.2% and clothing decreased by 24%. Fabrics became the main commodity driving growth, with an increase of 12.2%. Yarns and finished products were basically the same. The export volume of knitted garments fell by 8.2%, and the average unit price of exports fell by 18.5%.
Japan – The growth in exports to Japan was short-lived and fell again in April.
Despite the rebound in March, the overall sluggish situation in the Japanese market has not changed. Exports to Japan fell sharply again in April, down 17.4%. Cumulative exports to Japan from January to April were US$6.39 billion, down 8%, of which textiles and clothing dropped 6.2% and 8.5% respectively. The total export volume of needle and woven clothing for major categories fell by 4.3%, and the average unit price of exports fell by 4.6%.
4. Exports of major categories of commodities continue to grow, and export unit prices have not stopped falling.
In April, both textile and clothing exports continued to grow, with increases of 13.9% and 12.3% respectively. Among textiles, finished products grew the fastest, with an increase of 20.8%. Yarn and fabrics increased by 9.8% and 11% respectively; exports of knitted and woven clothing increased by 8.6%. The export prices of major categories of commodities have not yet resumed growth. The average export unit price of needle-woven garments fell by 1.8%, and the decline in yarn, fabrics and finished products has not stopped.
From January to April, textile and clothing exports fell by 0.9% and 4% respectively, and the decline further narrowed. Except for fabrics, yarn, manufactured goods and needle-woven garments did not resume growth.
5. The exports of various provinces and regions are now divided, with Guangdong and Fujian leading the country.
In April, the exports of various provinces were clearly differentiated: among the key export provinces and regions in the east, Guangdong and Fujian grew rapidly, with growth rates reaching 29.4% and 15.3% respectively, far exceeding�mean. Exports from Jiangsu, Shandong, Shanghai and other places have once again declined, and similar situations have also occurred in the central and western regions.
From January to April, the number of provinces and regions that achieved cumulative growth in exports across the country expanded to 10, of which Guangdong and Fujian grew by 8.3% and 11.9% respectively.
6. Imports of textiles and clothing have experienced negative growth again.
In April, textile and clothing imports continued to decline, with declines of 18% and 4.1% respectively. Among textiles, yarn declined the fastest, with a drop of more than 20%. Fabrics and finished products dropped by 14.2% and 10.3% respectively. The total import volume of knitted and woven clothing fell by 4.6%.
From January to April, the cumulative import of textiles dropped by 17.6%, with yarn declining the fastest, by 24.4%. The import volume and price of cotton yarn fell by 21.5% and 9.4% respectively. The cumulative import of clothing increased by 2.3%, of which the import volume of needle-woven clothing increased by 6.6%, and the import unit price fell by 2.6%.
7. Cotton imports continue to decline, and the price difference between domestic and foreign cotton narrows.
Cotton imports in April were 70,000 tons, a slight increase from the previous period, but still down 56.5%. From January to April, the cumulative import volume was 280,000 tons, a decrease of 54.1%, and the average unit price of imports decreased by 0.6%.
In April, domestic cotton spot resources were sufficient, but the rotation of cotton reserves was later than market expectations. Cotton futures rose sharply. Coupled with the need for replenishment by textile companies, spot prices also rose. The monthly average price of the China Cotton Price Index (CCIndex3128B) was 12,017 yuan/ton, a month-on-month increase of 132 yuan/ton, or 1.11%; it was a year-on-year decrease of 1,407 yuan/ton, or 10.48%. At the end of the month, it was 12,372 yuan/ton, an increase of 694 yuan/ton from the end of last month.
China’s imported cotton price index FCIndexM on April 29 was 72.38 cents/pound, up 5.69 cents from the end of March. The 1% tariff discounted RMB 12,069/ton, which was lower than the Chinese cotton price index of 303 yuan/ton in the same period and higher than the previous month. The price difference narrowed by 228 yuan in the same period last month; the sliding tax discount was RMB 14,137 per ton, which was higher than the China cotton price index of 1,765 yuan in the same period, and the price difference narrowed by 186 yuan compared with the previous month.
(The above two paragraphs are excerpted from the website of China Cotton Association)

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