On October 13, the General Administration of Customs of China announced the national Goods trade data. In the first three quarters, textile and clothing exports overall achieved rapid growth, with a growth rate exceeding that of the national trade in goods. Among them, clothing exports continued to grow in September. As the global epidemic eased, the growth rate of textile exports fell further.
Overview of textile and apparel exports in the first three quarters
Textile and apparel exports in RMB
2020 From January to September this year, the cumulative exports of textiles and clothing were 1.51567 billion yuan, an increase of 12.2%, of which textile exports were 828.78 billion yuan, an increase of 37.5%, and clothing exports were 686.89 billion yuan, a decrease of 8.1%.
In September, textile and clothing exports were 196.79 billion yuan, an increase of 14.5%, of which textile exports were 91.23 billion yuan, an increase of 33.4%, and clothing exports were 105.56 billion yuan, an increase of 2.1%.
Textile and clothing exports in US dollars
From January to September 2020, the cumulative exports of textile and clothing were US$215.78 billion, an increase of 9.3%, of which Textile exports were US$117.95 billion, an increase of 33.7%, and clothing exports were US$97.83 billion, a decrease of 10.3%.
In September, textile and clothing exports were US$28.37 billion, an increase of 18.2%, of which textile exports were US$13.15 billion, an increase of 35.8%, and clothing exports were US$15.22 billion, an increase of 6.2%.
According to customs statistics, in the first three quarters, the total import and export value of my country’s goods trade was 23.12 trillion yuan, an increase of 0.7% over the same period last year; of which, exports were 12.71 trillion yuan, an increase of 0.7%. 1.8%; imports were 10.41 trillion yuan, down 0.6%.
Textiles and apparel performed well in the first three quarters
National trade in goods The total import and export value is calculated in RMB
From January to September 2020, the total import and export value of goods trade was 23.1 trillion yuan, an increase of 0.7% over the same period last year (the same below), of which exports were 12.7 trillion yuan. , an increase of 1.8%, and imports were 10.4 trillion yuan, a decrease of 0.6%.
Foreign trade import and export in September was 3.06 trillion yuan, an increase of 10%, of which exports were 1.66 trillion yuan, an increase of 8.7%, and imports were 1.4 trillion yuan, an increase of 11.6%.
The total import and export value of national trade in goods is calculated in US dollars
From January to September 2020, the total import and export value of trade in goods was 3.29 trillion The US dollar fell by 1.8% compared with the same period last year, of which exports were US$1.81 trillion, down 0.8%, and imports were US$1.48 trillion, down 3.1%.
In September, foreign trade import and export reached US$442.52 billion, an increase of 11.4%, of which exports were US$239.76 billion, an increase of 9.9%, and imports were US$202.76 billion, an increase of 13.2%.
The “Belt and Road” market has made outstanding contributions
my country’s cumulative imports and exports to countries along the “Belt and Road” are 6.75 trillion yuan, an increase of 1.5% . Among them, exports were 3.85 trillion yuan, an increase of 2.8%; imports were 2.9 trillion yuan, a decrease of 0.3%. Imports and exports to some major trading countries have achieved rapid growth. For example, imports and exports to Vietnam, Turkey, Poland, and Thailand increased by 18.5%, 17.1%, 13%, and 10.9% respectively. Among export commodities, the export of mechanical and electrical products was 2.12 trillion yuan, an increase of 8%, accounting for 55% of the total export value between my country and countries along the “Belt and Road” during the same period.
China-US trade is relatively stable
In the first three quarters, the total value of Sino-US trade was 2.82 trillion yuan, a year-on-year increase of 2%. Among them, exports to the United States were 2.18 trillion yuan, an increase of 1.8%, and imports from the United States were 640.86 billion yuan, an increase of 2.8%. In terms of export commodities, in the first three quarters, our exports of mechanical and electrical products to the United States were 1.31 trillion yuan, an increase of 1.4%, accounting for 60% of the total export value to the United States in the same period. Among them, notebook computers were 162.09 billion yuan, an increase of 14.4%, and mobile phone exports were 128.69 billion yuan, a decrease of 3.4%. During the same period, the export of labor-intensive products was 547.14 billion yuan, an increase of 4.4%, and the export of medical materials and drugs was 20.13 billion yuan, an increase of 32.4%. In terms of imports, in the first three quarters, China imported 91.39 billion yuan of agricultural products from the United States, an increase of 44.4%.
Cross-border e-commerce bucks the trend and rises
As an emerging trade format, cross-border e-commerce relies on its online transactions and contactless transactions. Advantages such as goods and short transaction chains have bucked the trend and have played a positive role in helping foreign trade companies cope with the impact of the epidemic. During the epidemic, cross-border e-commerce import and export trade volume increased instead of falling, becoming an important force in stabilizing foreign trade. In the first three quarters, my country’s import and export volume through the customs cross-border e-commerce management platform was 187.39 billion yuan, a year-on-year increase of 52.8%. This also includes the 9710 and 9810 trade modes that were added on July 1 this year. Adhering to the concepts of “inclusiveness, prudence, innovation and collaboration”, the customs continues to innovate and optimize the supervision system to support the healthy and orderly development of new business formats.
The overall performance of imports and exports was better than expected
First, foreign trade imports and exports stabilized quarter by quarter, and the cumulative growth rate turned from negative to positive.
In the first and second quarters of this year, my country’s import and export growth rates were -6.5% and -0.2% respectively. In the third quarter, my country’s imports and exports were 8.88 trillion yuan, a year-on-year increase of 7.5%, of which exports were 5 trillion yuan. An increase of 10.2%, and imports were 3.88 trillion yuan, an increase of 4.3%. In the third quarter, the total import and export value, total export value, and total import value all hit quarterly record highs. The cumulative exports in the first eight months achieved positive growth, and the cumulative imports and exports in the first three quarters achieved positive growth.
Second, the import and export of private enterprises has increased significantly, and their role as a “stabilizer” of foreign trade has become more prominent.
In the first three quarters, the import and export of my country’s private enterprises was 10.66 trillion yuan, an increase of 10.2%, accounting for 46.1% of my country’s total foreign trade value, an increase of 4 percentage points over the same period last year. Among them, exports were 7.02 trillion yuan, an increase of 10%, accounting for 55.2% of the total export value; imports were 3.64 trillion yuan, an increase of 10.5%, accounting for 35% of the total import value. The import and export of foreign-invested enterprises was 8.91 trillion yuan, accounting for 38.5%. State-owned enterprises enterExports were 3.46 trillion yuan, accounting for 15%.
Third, imports and exports to major trading partners have maintained growth, with ASEAN being my country’s largest trading partner.
In the first three quarters, imports and exports to ASEAN, the EU, the United States, Japan, and South Korea were 3.38 trillion yuan, 3.23 trillion yuan, 2.82 trillion yuan, 1.61 trillion yuan, and 1.45 trillion yuan respectively. Growth rates were 7.7%, 2.9%, 2%, 1.4%, and 1.1% respectively. Among them, ASEAN is my country’s largest trading partner, accounting for 14.6% of my country’s total foreign trade value. In addition, my country’s imports and exports to countries along the “Belt and Road” were 6.75 trillion yuan, an increase of 1.5%.
Fourth, the import and export of general trade increased, and the structure of trade methods was further optimized.
In the first three quarters, my country’s general trade import and export reached 13.92 trillion yuan, an increase of 2.1%, accounting for 60.2% of my country’s total foreign trade value, an increase of 0.8 percentage points over the same period last year. Among them, exports were 7.57 trillion yuan, an increase of 3.8%; imports were 6.35 trillion yuan, an increase of 0.1%. During the same period, the import and export of processing trade reached 5.39 trillion yuan, a decrease of 6.4%.
Fifth, textiles and clothing have performed well, and exports of epidemic prevention materials have grown rapidly.
In the first three quarters, the export of seven major categories of labor-intensive products, including textiles and clothing, was 2.59 trillion yuan, an increase of 5.4%, accounting for 20.4%. Among them, the export of textiles including masks was 828.78 billion yuan, an increase of 37.5%. . In addition, exports of medical materials and drugs, medical instruments and equipment increased by 21.8% and 48.2% respectively.
Textile and apparel exports are expected to be high
Yes When analyzing market conditions, securities insiders said that in the coming period, the extent of improvement in different industries in the export chain may diverge; machinery and equipment, electronic components, textiles and clothing, shoes and boots, etc. deserve special attention. This also shows high expectations for the future performance of textile and apparel exports from one aspect.
The analysis points out that China mainly “substitutes” industrial manufacturing countries such as Mexico, Germany and France. The commodities with strong “substitution effect” in the early stage are mainly auto parts, chemicals, etc., and the subsequent export elasticity of such commodities will improve. or subject to certain restrictions. In comparison, consumer goods such as textiles, clothing, shoes and boots that have weak “substitution effects” in the early stage, and capital goods and intermediate goods where China has strong competitive advantages, such as machinery and equipment and electronic components, deserve special attention. </p
