The RMB exchange rate hits a six-year low, which is good for textile and apparel exports
Based on the 2015 revenue of listed companies in the industry and the proportion of overseas revenue, and taking into account the exchange gains and losses of foreign currency assets, the short-term performance elasticity of listed companies in the fabrics and workwear industry is calculated. The higher the export proportion, the higher the proportion of raw and auxiliary materials. The lower the proportion of imports, the higher the benefit for the company.
Long-term fabric workwearIndustrial transfer Among the general trends, the depreciation of the RMB exchange rate enhances long-term competitiveness. my country has a prominent position as a major manufacturing country of fabric workwear, but in recent years it has gradually faced competitive pressure from emerging countries such as Southeast Asia.
While my country’s workwear exports are concentrated in the United States, Europe and Japan, in the imported workwear market in the United States, Europe and Japan, China is its largest source of imports, but its market share Gradually lost to Vietnam, especially the Japanese market.
my country’s fabric exports are mostly scattered in developing countries, which are then sorted and exported to the United States, Europe, Japan and other countries. It can be seen from this that my country’s workwear exports directly face competition from emerging workwear exporting countries, while fabric exports can also benefit from the demand from emerging workwear countries, so my country’s workwear exports are under greater competitive pressure.
From the perspective of industrial transfer, the workwear industry consumes more labor, has lower technical requirements, and has lower capital investment than the fabric industry. Therefore, compared to the fabric industry, Industry, emerging and developing countries in Southeast Asia with abundant cheap labor resources, relatively scarce fabric raw materials, and relatively scarce capital have comparative advantages in the development of the workwear industry.
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