-National yarn export overview
According to China Customs statistics, the national yarn import and export volume from January to May 2016 was US$7.6 billion, a year-on-year decrease of 11.7%. Among them, the export value was US$4.64 billion, down 2.8%; the decline narrowed. The average export unit price was US$2.47/kg, down 14.7% year-on-year. The import value was US$2.96 billion, a year-on-year decrease of 22.9%; the average import unit price was US$2.83/kg, a year-on-year decrease of 5.9%.
1. In May, the export volume of cotton yarn declined, while the export volume of wool animal hair yarn, chemical fiber yarn and silk thread all increased.
Cotton yarn exports fell by 9.5%. The export value of wool animal hair yarn, chemical fiber yarn and silk thread increased, reaching US$130 million, US$720 million and US$20 million, a year-on-year increase of 22.4%, 12.6% and 17.5% respectively.
2. From January to May 2016, exports to ASEAN, the EU and Latin America increased, while exports to Japan and North America decreased.
From January to May 2016, the Asian market accounted for 67.7% of my country’s yarn exports, a year-on-year decrease of 5.1%. Exports to ASEAN increased by 7.6%. Cambodia had the largest increase, with an increase of 20.8%.
From January to May, China’s yarn exports to Hong Kong were US$570 million, a decrease of 24%. Among South Asian countries, Bangladesh’s exports increased the most, reaching US$390 million, an increase of 3.8%. China’s yarn exports to Japan were US$150 million, a decrease of 5.3%, and the decline narrowed.
Exports to the EU increased, with exports reaching US$500 million, an increase of 7.9%, continuing the growth since last month and worthy of attention. Exports to Türkiye increased, reaching 25%. Exports to Latin America increased by 6.9%. Exports to North America declined, by 13.7%.
3. Among the major exporting provinces and cities, Sichuan has the largest export growth.
Coastal provinces are the main force in yarn exports. Among the top ten export provinces and cities from January to May, Sichuan grew the most, with an increase of 20.7%. Eight provinces and cities exported more than 100 million US dollars.
4. The export unit price of wool animal hair yarn has increased, while the export unit price of silk thread, cotton yarn and chemical fiber yarn has declined.
From January to May 2016, the export unit price of wool animal hair yarn increased, reaching 33.09 US dollars/kg, an increase of 9.5%; the export unit prices of silk thread, cotton yarn and chemical fiber yarn were 36.53 US dollars/kg, 4.65 US dollars/kg and 2.13 US dollars/kg. USD/kg, down 10.2%, 5.7% and 16.9% respectively.
5. Related links
1. Short-term cotton price fluctuations
The performance of Britain’s exit from the European Union in the cotton market is likely to further widen the gap between China’s domestic cotton prices and international cotton prices. Industry insiders estimate that international cotton prices will fall back to 60 cents or even lower. Although we have huge domestic cotton stocks, in the long run, it will be difficult to withstand the impact of globalization brought about by Brexit, and cotton price fluctuations will intensify in the short term.
2. Textile and clothing exports to the UK slow down
The proportion of China’s textile and apparel exports to the UK is not small, ranking among the top five, and it is a relatively important trading partner. Brexit will trigger market fluctuations and increase export risks, which will have a direct impact on my country’s textile and apparel exports.
As the potential impact on the global economy after Brexit continues to emerge, it is expected that future demand will face a rebalancing process. Therefore, the growth momentum of China’s textile and apparel exports to the UK is expected to slow down significantly in the next 2-3 years.
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