Overview of national textile and apparel trade

In September 2016, the total import and export value of national trade in goods was US$327.03 billion, a year-on-year decrease of 6.6%. Among them, exports were US$184.51 billion, down 10%; imports were US$142.52 billion, down 1.9%. The trade surplus for the month was US$41.99 billion. From January to September, the total import and export value was US$2.67767 billion, a year-on-year decrease of 7.8%. Among them, exports were US$1,537.01 billion, down 7.5%; imports were US$1,140.66 billion, down 8.2%, with a cumulative trade surplus of US$396.36 billion.

In September, the textile and apparel trade volume was US$24.73 billion, down 15.2%, of which exports were US$22.76 billion, down 15.4%, and imports were US$1.96 billion, down 12.1%. The trade surplus that month was US$20.8 billion, down 15.7%. From January to September, the textile and apparel trade volume was US$218.11 billion, down 5.5%, of which exports were US$200.86 billion, down 5%, and imports were US$17.26 billion, down 11.5%. The cumulative trade surplus was US$183.6 billion, down 4.3%.

1. The cumulative decline in the first three quarters is 5%, and the decline in exports for the whole year has been determined.

In September, textile and apparel exports fell sharply again, down by as much as 15.4%. The export volume for the month shrank to US$22.76 billion, down 18.5% from August. Total exports in the third quarter were US$75.83 billion, down 8.6% year-on-year, a decline greater than that in the first and second quarters. The reason for the sharp decline despite a low base in the same period last year was mainly due to the sudden drop in textiles. Textile exports shifted from positive growth in August to a 20% drop in September. Among them, Zhejiang, a major textile export province, was affected by the Hangzhou G20 Summit on printing and dyeing enterprises. Affected by the requirements to limit production and suspend production, textile exports fell by nearly 40% that month, and export volume hit a new low for the year, negatively driving national textile exports by 12.4 percentage points. At the same time, other unfavorable factors, such as sluggish market demand and industrial transfer, still exist, which also have a continued negative impact on exports.

Cumulative exports in the first three quarters fell by 5%. If the whole year is to be the same as last year, exports in the fourth quarter need to reach US$83.04 billion, which means the average monthly growth rate in each month of the fourth quarter is 14.5%. Judging from the current situation, this possibility is slim, and the situation of export decline this year has been basically determined.

The decline in imports continued, with imports falling by 11.4% in the third quarter and a cumulative decline of 11.5% in the first three quarters.

2. Exports by major trade modes all declined, while market procurement maintained growth.

In September, all major trade exports declined, and the decline was relatively large. Exports of general trade and processing trade fell by 17.8% and 20.1% respectively, with both declines exceeding the average. Other trade methods mainly based on market procurement increased by 33.3%.

From January to September, general trade and processing trade decreased by 4.2% and 17% respectively; market procurement trade increased by 29.4%, and its proportion further increased to 5.7%.

3. Exports to major markets fell to varying degrees.

EU – Exports to the EU declined rapidly, and the unit price of clothing exports fell by more than 10%.

In September, exports to the EU stopped recovering month by month. Exports in that month were only US$3.91 billion, down 13.4% year-on-year and 33.7% month-on-month respectively. Among them, textiles and clothing dropped 16.2% and 12.7% respectively year-on-year. The decline was again enlarge. The total export volume of key commodities, medium-needle and woven garments, fell by 1.9%, and the average export unit price fell by 10.9%. From January to September, cumulative exports to the EU were US$38.01 billion, a decrease of 5.5%, of which textiles increased by 2%, clothing decreased by 7.7%, 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 decline, but there is still hope for recovery.

Exports to the United States have experienced negative growth for six consecutive months. Exports in September were US$4.28 billion, a decrease of 8.3%. Among them, the export volume of large categories of needle-woven garments fell by 0.4%, and the export unit price fell by 5.9%. The U.S. market is currently in a sluggish state, but since the export volume of key commodities has not dropped significantly and has remained at a certain level, and the RMB exchange rate continues to depreciate against the U.S. dollar, there is still hope for a slow recovery in exports to the U.S.

From January to September, cumulative exports to the United States were US$34.14 billion, down 6.2%, the largest decline among key markets, surpassing the EU, ASEAN and Japan. Among them, textiles fell by 5.5% and clothing fell by 6.4%. The export volume of needle-woven garments fell by 2.7%, and the average export unit price fell by 2.5%.

ASEAN – Exports to ASEAN continued to decline, and the export unit prices of major categories of commodities fell significantly.

The ASEAN market continues to decline. Exports to ASEAN shrank further in September to only US$2.34 billion, down 25% year-on-year and 18.8% month-on-month, of which textiles fell 21% and clothing fell by 33.2%. Among major categories of commodities, yarn and fabrics fell by 11.7% and 24.3% respectively, and the export volume of needle-woven garments fell by 17.9%. At the same time, export prices showed an obvious downward trend, with yarn falling by 7.4%, fabrics falling by 7.8%, and needle-woven garments falling by 20.4%. From January to September, China’s cumulative exports to ASEAN were US$24.48 billion, a decrease of 3.7%, of which textiles increased by 2.8% and clothing decreased by 17.7%. Among them, the export volume of needle and woven clothing decreased by 4.5%, and the average export unit price decreased by 15%.

Exports to the Philippines, which had grown rapidly in the early period, declined. In September, they stopped increasing and turned down, down 4.1%. The cumulative growth in the first nine months was 48.5%.

Japan – The market performance is relatively stable, and the export volume of key commodities has not been significantly reduced.

The recent performance of the Japanese market has been relatively stable, and the export volume of key commodities has not shrunk significantly. Although exports to it fell by 14% in September, the export value of US$2.18 billion was only lower than that in August and was at a high level during the year. Cumulative exports to Japan from January to September were US$15.29 billion��, down 5%. Among them, textiles decreased by 1.9%, clothing decreased by 5.8%, the total export volume of needle and woven clothing decreased slightly by 0.7%, and the average export unit price decreased by 4.9%.

According to Japanese customs statistics, from January to August, China’s share of the market has dropped to 61%, and the proportion of imports from ASEAN has increased to 23.2%.

4. Textile exports declined temporarily, and export prices of major categories of commodities fell.

In September, both textile and clothing exports declined, with textiles declining even more rapidly, with declines of 20.4% and 12.6% respectively. Among them, fabrics dropped by 29%, yarn dropped by 20%, and finished products dropped by 13%. The decline in textile exports is mainly affected by the G20 production suspension and production restrictions. It is a temporary decline and is not long-term. It is expected to rebound in October. The total export volume of medium-needle and woven clothing decreased by 4.5%. The export unit prices of major categories of commodities generally fell: yarn, fabrics and knitted garments fell by 5.5%, 8.9% and 7.4% respectively.

From January to September, textile and clothing exports fell by 3% and 6.3% respectively, of which the export unit prices of yarn and needle-woven clothing fell by 13.3% and 6.2% respectively.

5. Zhejiang and Fujian experienced the largest decline in exports, while Xinjiang grew rapidly.

In September, exports from all major provinces and cities across the country fell, especially in Zhejiang, which dropped by as much as 28.7%, relegating it to second place in the national export rankings that month. Followed by Fujian, down 28.5%. The export decline of other major provinces and cities was basically controlled within 10%. Xinjiang’s exports are growing rapidly, with growth rates of 14.7% and 21% in August and September respectively. The commodities driving growth are mainly yarns, fabrics and woven garments. From January to September, among the top five exporting provinces and cities, only Shandong maintained a growth of 2.7%, while the remaining four provinces all declined.

6. The growth of clothing imports has slowed down, and commodity prices have rebounded slightly.

Textile imports fell by 15.2% in September, and clothing fell by 3.9%. Yarn in textiles decreased by 22.1%, of which cotton yarn import volume and value decreased by 29.3% and 27.1% respectively. The growth of clothing imports slowed down, and the total import volume of needle and woven clothing only increased by 2.1%. The unit price of yarn imports rebounded slightly, rising by 2.3%, while the unit price of needle-woven garments fell by 6.5%, and the decline was also smaller than the previous period.

From January to September, cumulative imports of textiles fell by 15.7%, while clothing increased by 1.3%. In textiles, yarn, fabrics and finished products decreased by 22.6%, 12% and 5.1% respectively. The total import volume of medium-needle woven clothing increased by 6.9%.

7. Cotton import volume resumed growth year-on-year, and the price gap between domestic and foreign cotton expanded.

In September, cotton imports continued to fall. 60,000 tons were imported that month, a month-on-month decrease of 12.8%, but growth resumed year-on-year, with an increase of 19%. The import unit price also rebounded, with a year-on-year increase of 3.2%. From January to September, the cumulative import volume was 656,000 tons, a decrease of 43.5%, and the import unit price fell by 2.1%.

In September, reserved cotton was still the main channel for textile cotton. Due to the slow launch of new cotton and the high price of new cotton, cotton-using enterprises increased their bidding efforts for reserved cotton. The transactions were hot and the transaction price continued to rise. , spot market prices stopped falling and rebounded. China’s cotton price index (CCIndex3128B) was 14,866 yuan/ton at the end of the month, an increase of 640 yuan/ton or 4.5% from the end of last month. However, the average monthly transaction price was 14,258 yuan/ton, which was still 416 yuan/ton lower than the previous month and 1,196 yuan/ton higher than the same period last year.

In September, the overall cotton price trend in the international market showed a volatile trend. Among them, there was a dip at the beginning of the month, a shock rebound in the middle, and a fall in the second half. The monthly average price showed a slight decline, and the price difference between domestic and foreign cotton expanded at the end of the month. China’s imported cotton price index FCIndexM was 78.4 cents/pound at the end of September 30, up 1.08 cents from the end of August. The 1% tariff discount was RMB 13,231/ton, which was lower than the Chinese cotton price index of 1,635 yuan/ton in the same period. The price increased by 633 yuan compared with the same period last month. The monthly average price was 79.26 cents/pound, down 2.51 cents or 3.1% from the previous month.

AAA

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