Overview of national textile and apparel trade
In August 2016, the total import and export value of national trade in goods was US$329.14 billion, a year-on-year decrease of 1.1%. Among them, exports were US$190.59 billion, a decrease of 2.8%; imports were US$138.54 billion, an increase of 1.5%. The trade surplus for the month was US$52.05 billion. From January to August, the total import and export value was US$2.35097 billion, a year-on-year decrease of 7.9%. Among them, exports were US$1,352.93 billion, down 7.1%; imports were US$998.04 billion, down 9%, with a cumulative trade surplus of US$354.89 billion.
In August, the textile and apparel trade volume was US$30.11 billion, down 3.1%, of which exports were US$27.93 billion, down 3.1%, and imports were US$2.17 billion, down 3.1%. The trade surplus for the month was US$25.76 billion, down 3.1%. From January to August, the textile and apparel trade volume was US$193.39 billion, down 4.1%, of which exports were US$178.09 billion, down 3.5%, and imports were US$15.29 billion, down 11.4%. The cumulative trade surplus was US$162.8 billion, down 2.6%.
1. The decline in imports and exports slowed down in August.
In August, the decline in textile and apparel exports eased slightly compared with previous months, the decline did not continue to amplify, and the export situation was better than expected. China’s foreign trade export leading index released by China Customs in August was 34.7, an increase of 0.9 from the previous month, indicating that export pressure is expected to ease in the fourth quarter.
In the same month, imports fell by 3.1%, a decrease of 15 percentage points from the previous month.
2. General trade exports declined, and the proportion of market procurement trade increased.
In August, exports of general trade and processing trade fell by 3.6% and 14.8% respectively, with both declines exceeding the average. Other trade methods based on market procurement increased by 27.1%, accounting for 6.4% of exports, forming an effective positive boost to overall exports.
From January to August, general trade and processing trade decreased by 2.3% and 16.6% respectively; market procurement trade increased by 28.7%, accounting for 5.4% from 4.6% at the beginning of the year.
3. The main markets have improved slightly.
EU – Exports to the EU are increasing month by month, and the unit price of clothing exports is falling rapidly.
Exports to the EU increased month by month. In August, exports reached US$5.9 billion, a new monthly export high for the year, with a year-on-year growth of 1.5%, of which clothing fell by 0.7%. The total export volume of knitted and woven clothing increased by 11.4%, and the average unit price of exports fell. 11.6%. From January to August, cumulative exports to the EU were US$34.11 billion, a decrease of 4.5%, of which textiles increased by 4.2%, clothing decreased by 7%, the total export volume of knitted clothing increased by 1.1%, and the export unit price decreased by 8%.
United States – Exports to the United States continue to rise, while the decline in apparel is a drag on the overall performance.
Although growth has not yet resumed, exports to the United States have been rising month by month. In August, exports were US$4.93 billion, a new high for the year, a year-on-year decrease of 6.2%, of which clothing fell by 8.6%, and knitted and woven clothing exports fell by 4.5%. The export unit price fell by 4.6%.
From January to August, cumulative exports to the United States were US$29.86 billion, down 5.9%, the largest decline among key markets, surpassing the European Union and Japan. Among them, textiles fell by 5.1% and clothing fell by 6.2%. The export volume of needle-woven garments fell by 3.1%, and the average export unit price fell by 2%.
ASEAN – Exports to ASEAN increased slightly, and the unit price of clothing exports fell by more than 10%.
Exports to ASEAN achieved a 3.5% growth in August, but the export volume still failed to exceed April and May in the second quarter. Clothing exports, which accounted for a quarter, fell by 9.2%, while textiles increased by 8.6%. Among major categories of commodities, the average export unit price of knitted and woven garments fell by 12.1%, which was the main reason for the decline in exports. From January to August, China’s cumulative exports to ASEAN were US$22.14 billion, a decrease of 0.8%, of which textiles increased by 6.2% and clothing decreased by 15.5%. Among them, the export volume of needle and woven clothing decreased by 2.6%, and the average export unit price decreased by 14.4%.
Exports to the Philippines have increased by 58.6% in total. The fastest-growing commodities are fabrics and knitted clothing, with increases of 94.5% and 41.1% respectively.
Japan – The market has improved slightly, and exports to Japan have resumed slight growth.
The Japanese market has improved slightly since May, and the decline in exports to Japan has gradually narrowed. Exports to Japan in August were US$2.21 billion. The export volume hit a new high for the year, achieving a year-on-year growth of 2.4%, among which the key export commodities were knitting and woven fabrics. The total export volume of clothing increased by 8.6%. Cumulative exports to Japan from January to August were US$13.11 billion, a decrease of 3.3%. Among them, textiles decreased by 0.5%, clothing decreased by 4%, the total export volume of needle and woven clothing increased by 0.9%, and the average export unit price decreased by 4.9%. According to Japanese customs statistics, imports from China fell by 4.4% from January to July, exceeding the decline in imports from the world. Bangladesh, Cambodia and Myanmar ranked fifth, seventh and eighth among their import source countries respectively. Japan’s imports from these three countries grew the fastest, with an increase of more than 20%.
4. Clothing exports have not yet resumed growth, and export prices of major categories of commodities have generally fallen.
In August, textile exports increased by 5.2%, while clothing exports decreased by 7.3%. In textiles, yarn, fabrics and finished products all achieved growth, with increases of 10.7%, 4.8% and 4.4% respectively. The total export volume of medium-needle woven apparel increased by 3.3%. The export unit prices of major categories of commodities generally fell: yarn, fabrics and knitted garments fell by 10.3%, 10% and 11% respectively.
From January to August, textile and clothing exports fell by 0.6% and 5.3% respectively, of which the export unit prices of yarn and needle-woven clothing fell by 14.2% and 6% respectively.
5. Industrial enterprises contributed to the growth of Jiangsu, Zhejiang and Shandong, and the decline in Guangdong and Fujian expanded.
In August, leading the country’s exports to achieve positive growth.��The main provinces are Zhejiang, Jiangsu and Shandong. What the three provinces have in common is that they are still dominated by industrial enterprises. Among the top-ranking enterprises, most are large enterprises with comprehensive production and foreign trade capabilities. These enterprises form a strong support for the province’s exports, and changes in export increases and decreases It is also relatively stable. Guangdong and Fujian exerted a negative influence on national exports, and their declines continued to expand to 13.7% and 23.3% from the previous month. From January to August, among the top five exporting provinces and cities, only Shandong maintained a growth of 4%, while the remaining four provinces all declined.
6. Clothing imports resumed growth, but commodity prices continued to decline.
Textile imports fell by 8.2% in August, and clothing resumed growth by 8.5%. Yarn in textiles decreased by 16.7%, among which the import volume and value of cotton yarn decreased by 17.9% and 20.8% respectively. The total import volume of knitted and woven clothing increased by 20.8%. The unit price of bulk commodity imports fell: yarn fell by 3.9%, and needle and woven garments fell by 7.7%.
From January to August, cumulative imports of textiles fell by 15.8%, while clothing increased by 2.1%. In textiles, yarn, fabrics and finished products decreased by 22.7%, 12.1% and 5.1% respectively. The total import volume of medium-needle woven clothing increased by 7.5%.
7. Cotton import volume dropped again, and domestic and foreign cotton prices fell.
In August, cotton imports fell again, with 70,000 tons imported that month, a year-on-year decrease of 0.7% and a month-on-month decrease of 26.8%. The unit price of imports fell sharply, by 9.5%. From January to August, the cumulative import volume was 596,000 tons, a decrease of 46.3%, and the import unit price fell by 3%.
Affected by various factors such as delays in the rotation of cotton reserves, domestic cotton spot prices fell rapidly in August after rising at the end of July, falling to mid-July levels at the end of the month. China’s cotton price index (CCIndex3128B) was 14,226 yuan/ton at the end of the month, down 1,082 yuan/ton from the end of last month, a decrease of 7%. However, the monthly average transaction price was 14,674 yuan/ton, still up 358 yuan/ton, or 2.5%, from the previous month, down 10.28% from the previous month; it was up 1,557 yuan/ton, or 11.87% year-on-year.
In August, the trend of cotton prices in the international market was roughly the same as that in the domestic market, both continued to decline, but the decline was slower than in the domestic market, and the price difference between domestic and foreign cotton prices continued to narrow at the end of the month. China’s imported cotton price index FCIndexM at the end of August 31st was 77.32 cents/pound, down 6.05 cents from the end of July. The 1% tariff discount was RMB 13,224/ton, which was lower than the Chinese cotton price index of 1,002 yuan/ton in the same period. The price difference narrowed by 261 yuan compared with the same period last month. The monthly average price was 81.77 cents/pound, still up 1.55 cents or 1.93% month-on-month.
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