Textile and apparel exports are expected to maintain steady growth throughout the year

The growth in overseas demand continues to drive the export of my country’s textile and clothing products. Statistics from the General Administration of Customs show that China’s textile and clothing exports from January to February 2022 will increase after 2021. China’s textile and apparel exports have continued to maintain positive growth since the fourth quarter of 2020, with a value of US$50.202 billion, a year-on-year increase of 8.9% (a year-on-year increase of 6.3% in RMB), of which textile exports were US$24.741 billion, a year-on-year increase of 11.9% (a year-on-year increase in RMB) Growth of 9.3%); clothing exports continue to grow steadily, with exports in the first two months of 2022 reaching US$25.461 billion, a year-on-year increase of 6.1% (a year-on-year increase of 3.7% in RMB).

Despite facing unfavorable factors such as soaring sea freight and rising raw material prices, the consumer demand for China’s textile and apparel market in the United States, Europe, Southeast Asia and other countries and regions is still increasing, and China’s textile and apparel exports still maintain a growth trend.

“China’s textile and apparel market is ‘three-thirds based on domestic demand and seven-cent based on exports’. While the export growth momentum is still maintained, domestic market demand will also begin to gain momentum in 2022, resulting in a ‘scissors’ gap between the year-on-year growth rates of domestic sales and exports.” ‘The trend is gradually narrowing.” Zhuochuang Information analyst Liu Jie said. The latest data from the Bureau of Statistics show that the total retail sales of consumer goods from January to February 2022 was 7,442.6 billion yuan, a year-on-year increase of 6.7%. Among them, the retail sales of clothing, shoes, hats, and knitted textiles were 238.2 billion yuan, a year-on-year increase of 4.8%. It turned positive for the first time after five consecutive months of year-on-year decline. The domestic consumer market is gradually gaining momentum.

However, from the perspective of raw material supply, as domestic and foreign cotton prices both hit a ten-year high, downstream acceptance of high-priced cotton has declined, and signs of “negative feedback” in the textile industry chain have emerged. In addition, the international situation is changing rapidly, and follow-up orders are weak. . According to research by Zhuochuang Information, as of March 10, Shandong cotton spinning companies’ cotton yarn orders took 4.8 days to queue, 13.2 days less than the same period last year. Currently, some cotton spinning companies’ cotton yarn orders have been queued to In late March, as the price of Zheng cotton fluctuated and fell, new orders from the downstream showed no significant improvement, and there were few orders placed in the market. In addition, as logistics and transportation in some areas of the country are blocked, textile companies are faced with the dilemma of being unable to bring in raw materials and unable to get out products, which is unfavorable for companies to receive orders.

“In the short term, due to the obstruction of logistics and transportation, the growth rate of domestic retail sales of clothing, shoes, hats, and knitted textiles may return to negative growth in March. However, as logistics and transportation gradually become smoother in the later period, the central bank’s interest rate cuts and reserve requirement ratios will be combined with the stimulation of domestic demand. With the implementation of policies, domestic demand is expected to gradually develop.” Liu Jie said that the international situation will change rapidly in 2022, and China’s textile and apparel foreign trade will face increasing uncertainties. However, as a major textile exporter, China has a complete industrial chain and strong international cooperation. Advantage. In addition, from the perspective of market demand, affected by the mutation of the epidemic virus, exports of anti-epidemic materials have rebounded, and key markets have become more dependent on Chinese products. Liu Jie predicts that China’s textile and apparel exports are expected to maintain steady growth in 2022.

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