90% of Shaoxing’s textile machinery is exported to countries along the “Belt and Road”

Since the beginning of this year, benefiting from the “Belt and Road” strategy, Shaoxing’s textile machinery export growth has further accelerated. According to Shaoxing Customs statistics, from January to July this year, Shaoxing exported 1.27 billion yuan of textile machinery, an increase of 6.1% over the same period last year (the same below), accounting for 44.8% of the province’s textile machinery exports.

Since the beginning of this year, the overall export situation of Shaoxing’s textile machinery has been improving, with exports in July hitting a new high for the year. According to statistics from Shaoxing Customs, except for February, Shaoxing’s monthly exports of textile machinery this year have remained at a historical high of more than 170 million yuan. Exports from March to May increased significantly, with increases of 82.4%, 22.1% and 16.8% respectively. In the month of July Exports were 210 million yuan, a month-on-month increase of 23.7%, a new high for the year.

Data shows that Shaoxing’s textile machinery export market is concentrated in countries along the “Belt and Road”. From January to July, a total of 1.19 billion yuan was exported to countries along the “Belt and Road”, an increase of 6.1%, accounting for 10% of Shaoxing’s textile machinery exports during the same period. 93.9% of the total value. Among them, India, Pakistan and Bangladesh are the top three export markets, and the three together accounted for 79.9% of Shaoxing’s total textile machinery export value during the same period.

As labor-intensive industries such as textiles, dyeing, and embroidery gradually shift to less developed countries, the demand for textile machinery in these countries is also growing rapidly. For example, in Bangladesh, the rapid rise of the textile industry has driven the growth in demand for textile machinery. From January to July, Shaoxing’s textile machinery exports to Bangladesh increased 2.2 times year-on-year.

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