Overview of national textile and apparel trade
In March 2016, the total import and export value of national trade in goods was US$291.77 billion, a year-on-year increase of 2%. Among them, exports were US$160.81 billion, an increase of 11.5%; imports were US$130.96 billion, a decrease of 7.6%. The trade surplus for the month was US$29.85 billion. From January to March, the total import and export value was US$802.14 billion, a year-on-year decrease of 11.3%. Among them, exports were US$463.93 billion, down 9.6%; imports were US$338.21 billion, down 13.5%, with a cumulative trade surplus of US$125.72 billion.
In March, the textile and apparel trade volume was US$18.97 billion, an increase of 26.4%, of which exports were US$16.85 billion, an increase of 34.1%, and imports were US$2.12 billion, a decrease of 13.2%. The trade surplus for the month was US$14.73 billion, an increase of 45.6%. From January to March, the textile and apparel trade volume was US$61.96 billion, down 5.9%, of which exports were US$56.64 billion, down 5.3%, and imports were US$5.32 billion, down 12%. The cumulative trade surplus was US$51.32 billion, down 4.5%.
1. Multiple factors contributed to the substantial growth in exports in March, and the cumulative decline in the first quarter narrowed.
After two consecutive months of decline, textile and apparel exports rebounded sharply in March, with export growth reaching 34% in that month. There are three reasons for the rapid growth: First, the base number in the same month last year was low – exports in March 2015 The amount was only US$12.56 billion, a decrease of 32.6%. The growth in March this year was partly reflected in restorative growth; secondly, the role of policies to promote foreign trade and stabilize exports began to appear. The implementation and implementation of measures such as promoting the transformation and upgrading of processing, increasing financing for small and medium-sized enterprises, and improving trade facilitation have promoted the gradual recovery of export growth; third, the recent performance of the RMB exchange rate has been relatively stable, and the confidence of export enterprises has rebounded.
Driven by March, the cumulative export decline in the first quarter narrowed to 5.3%. Due to the overall downturn in the world economy, there are still no obvious signs of recovery in major export markets, emerging markets are also sluggish, and the prospects for textile and apparel exports are still unclear. The preliminary forecast is that the trend in the next few months will still be dominated by small changes, with a small fluctuation range.
2. General trade methods and market procurement trade jointly promote exports, and the comprehensive foreign trade service platform continues to develop.
In March, exports under general trade and other trade methods mainly based on market procurement all achieved rapid growth, with increases of 43% and 259% respectively, driving 30 and 4.9 percentage points respectively to the overall export growth. Processing trade and small-scale border trade still fell by 1% and 5.6% respectively. From January to March, the cumulative exports of general trade fell by 2.7%, a lower than average decline; processing trade and small border trade fell by 16.4% and 28.4% respectively, and other trade methods increased by 25.4%.
The comprehensive foreign trade service platform continues to make efforts. In the first quarter, all four companies of “One Access” entered the top ten in export rankings, and all achieved huge growth.
3. Exports to major markets are growing.
European Union—Exports to the EU increased year-on-year but decreased month-on-month.
In March, China’s exports to the EU grew by 37.4%, the fastest growth among major markets. Among them, textiles increased by 50% and clothing increased by 31.2%. Cumulative exports to the EU from January to March were US$10.01 billion, a decrease of 9.2%, of which textiles increased by 0.8%, clothing decreased by 12.7%, needle and woven clothing exports decreased by 9.6%, and the average export unit price decreased by 4.5%.
Although exports to the EU achieved rapid year-on-year growth in March, the absolute volume of exports was lower than in February, with a month-on-month decline of 24.4%, and the export prospects are still unclear.
United States – Exports to the United States are relatively stable, and cumulative exports are basically the same.
Exports to the United States in March were US$2.44 billion, an increase of 33.1%, with textiles growing faster. From January to March, cumulative exports to the United States were US$9.23 billion, down only 0.3%. The United States performed the most stably among major markets. Among them, textiles decreased by 4.8% and clothing increased by 1.5%. The export volume of key commodities, needle-woven garments, increased by 1.2%, and the average export unit price increased by 2.7%.
Like the EU, exports to the United States also experienced year-on-year growth and month-on-month decline in March, with a month-on-month decrease of 13.1%.
ASEAN – The popularity of the ASEAN market has waned, and apparel exports have fallen sharply.
The popularity of the ASEAN market has gradually declined since last year. Exports to ASEAN all declined in the first two months of the first quarter of this year, but rebounded in March. Exports in that month were US$2.9 billion, an increase of 24.4%. Among major markets, the growth rate was only higher than Japan and lower than average value. Among them, Vietnam, which ranked first in ASEAN, fell the fastest. Exports to Vietnam still fell by 1.3% in March. In contrast, exports to the Philippines, Indonesia, Thailand, etc. grew rapidly.
From January to March, China’s cumulative exports to ASEAN were US$7.56 billion, down 8.6%, of which textiles increased by 7.6% and clothing dropped by 34.2%. Among major commodities, only fabrics achieved a growth of 14%, while yarn, finished products and knitted garments decreased by 1.8%, 5.7% and 35.6% respectively.
Japan – Exports to Japan increased for the first time in 12 months.
After falling for 12 consecutive months, China’s exports to Japan increased again in March, with exports of US$1.71 billion that month, an increase of 22.1%. Cumulative exports to Japan from January to March were US$4.82 billion, a decrease of 4.5%, of which textiles and clothing decreased by 1.8% and 5.1% respectively. The total export volume of needle and woven clothing for major categories of commodities increased by 1.1%, and the average export unit price decreased by 6.2%. Despite the rebound, the fundamentals of exports to Japan have not improved. The growth is only a temporary phenomenon, and the reduction in export volume is still the main trend of exports to Japan.
4. Exports of major categories of commodities increasedis growing rapidly, and the export unit price has not yet stopped falling.
In March, both textile and clothing exports achieved rapid growth, with increases of 34.9% and 33.5% respectively. Fabrics and finished products in textiles, and needle and woven garments in clothing all achieved growth of more than 30%, but the export price performance was not satisfactory. Among the major categories of commodities, only the average export unit price of needle and woven garments achieved an increase of 2.6%. After a slight increase, the prices of yarns, fabrics and finished products have not yet stopped falling.
From January to March, textile and clothing exports fell by 2.2% and 7.3% respectively, with the decline shrinking to less than 10%. Among the major categories of commodities, only fabrics maintained export growth, while exports of yarn, finished products and needle-woven garments decreased by 7.3%, 5.4% and 7.5% respectively. The average export unit price of yarn and needle-woven garments decreased by 15.6% and 2.6% respectively.
5. Exports in the areas where the new foreign trade service platform is located are growing rapidly.
Most provinces (cities, districts) across the country achieved a rebound in exports in March. The top five exporters of Zhejiang, Guangdong, Jiangsu, Shandong and Fujian all achieved export growth rates of more than 30% that month, and Fujian’s export growth rate was as high as 93.8%. . Judging from the data of that month, the exports in the areas where the new foreign trade comprehensive service platform headed by “Yidatong” are all showing rapid growth. The export growth rates of Hangzhou, Jinan, Fuzhou and Shenzhen were 40.1%, 512%, 152% and 35.8% respectively. .
From January to March, 7 provinces and cities achieved cumulative growth in exports. Among them, Guangdong, Fujian and Shandong, as key export destinations, all achieved growth.
6. Textile imports continued the downward trend, and clothing imports fell for the first time this year.
Textile imports continued their downward trend in March, falling by 16.4% that month. Yarn declined the fastest, with both volume and value falling by more than 20%. Cotton yarn imports, which accounted for the main share, fell by 23.3%. Clothing imports fell for the first time this year, down 3.3% in the month, of which the total imports of knitted and woven clothing fell by 3.6%. Import unit prices generally fell: yarn fell by 3.5%, and needle and woven garments fell by 10.8%.
From January to March, the cumulative import of textiles fell by 17.5%, with yarn declining the fastest, by 24.3%. The import volume and price of cotton yarn fell by 21% and 9.7% respectively. The cumulative import of clothing increased by 4%, of which the import volume of needle and woven clothing increased by 10.7%, and the import unit price fell by 4.4%.
7. Cotton imports continue to decline, and the price difference between domestic and foreign cotton narrows.
Cotton imports continued to decline in March. Only 58,000 tons were imported that month, a decrease of 54.7%. From January to March, the cumulative imports were 210,000 tons, a decrease of 53.2%. The average unit price of imports increased by 1%.
In March, the cotton rotation policy of the state reserve was clear. Relevant departments stated that on the basis of normalizing the rotation of cotton reserves, the rotation time of 2015/16 would be postponed. Domestic textile companies remain on the sidelines, with low willingness to purchase raw materials and light market transactions. Cotton spot resources are abundant, cotton companies are under great sales pressure, and domestic cotton spot prices continue to fall. The monthly average price of China’s cotton price index (CCIndex3128B) is 11,885 yuan/ton, a month-on-month decrease of 366 yuan/ton, a decrease of 2.99%; a year-on-year decrease of 1,580 yuan/ton. tons, a decrease of 11.73%. At the end of the month, it was 11,678 yuan/ton, down 412 yuan/ton from the end of last month.
The international cotton price fluctuated and rebounded, and the price difference between domestic and foreign cotton narrowed. China’s imported cotton price index FCIndexM was 66.69 cents/pound on March 31, up 1.01 cents from the end of February. The 1% tariff discount was RMB 11,147/ton, which was lower than the Chinese cotton price index of 531 yuan/ton in the same period and higher than the previous month. The price difference narrowed by 522 yuan in the same period of the month; the sliding tax discount was RMB 13,629 per ton, which was higher than the Chinese cotton price index of 1,951 yuan in the same period, and the price difference expanded by 471 yuan compared with the previous month.
AAA fabric network DFGRTJUYKYU
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