In the first seven months of this year, China’s textile and apparel exports increased year-on-year. Despite this, industry analysts believe that given the continued growth of overseas epidemics, textile and apparel exports will still face greater pressure.
Customs data show that in July, China exported US$31.294 billion in textiles and clothing, a year-on-year increase of 16.1%. A month-on-month increase of 7.79%. In the first seven months, China’s textile and apparel exports reached US$156.482 billion, a year-on-year increase of 5.57%.
Jinlianchuang Chemical Fiber Analyst Zhang Jie said that global economic production activities have gradually returned to normal, companies have resumed work and production, and people have Consumption is gradually recovering, and the concept of consumption has shifted from necessities to optional consumption. The purchase demand for clothing in major global markets has begun to rebound. Clothing exports have improved, and the decline has narrowed significantly compared with the previous period.
Due to the impact of the epidemic, although China’s textile exports fell sharply in the first quarter, China’s textile and apparel exports began to grow steadily starting in April. “The continued rebound in exports is mainly due to the fact that companies’ early orders on hand have reached the peak of execution. At the same time, the surge in exports of anti-epidemic materials has also driven the recovery of exports to a certain extent.” Zhang Jie said that from April to July, textile and clothing exports achieved 4 consecutive months increase. Textile and clothing exports continue to show a trend of polarization. Driven by the substantial growth in exports of anti-epidemic materials, the value of textile exports hit the highest level in the same period in history.
“Exports of traditional clothing and clothing accessories are still in a downward trend year-on-year, mainly due to the slow return of foreign trade orders and the deepening of the off-season in the domestic market. The transactions in the traditional clothing and clothing accessories market are light, and some Enterprises continue to accelerate the transformation and production of medical textiles and other factors.” Zhuochuang Information analyst Liu Jie said. It is understood that a large cotton spinning company in Liaocheng, Shandong has launched a new non-woven project, and the export of textiles such as masks and protective clothing continues to increase. However, due to the rapid expansion of production capacity, mask production has begun to suffer losses, and some mask production equipment has stopped production.
Analysts believe that the epidemic has put the entire industrial chain of the textile and apparel industry in a cycle of severely weak demand and prominent overcapacity. , if the market wants to get better, it still depends on the demand of the clothing industry. “Domestic textile and apparel demand is relatively weak, and overseas demand is difficult to see a significant improvement. Recently, the overseas new crown epidemic continues to spread. Although some countries around the world began to gradually relax their policies after May and the economy gradually recovered, resumption of work does not mean resumption of production. , people’s incomes have shrunk, and it will take a long time for consumption to pick up,” Zhang Jie said.
At the same time, as societies in Europe and North America unblock and activities increase, ports in these regions are facing increasing traffic congestion. If the congestion is not alleviated, foreign trade Exporters may need to pay additional congestion charges in addition to shipping costs.
“Affected by global unilateral tradeism and industrial transfer, the share of Chinese textile and apparel products in the markets of major developed countries continues to decline. In the past year, the EU, the United States and The proportion of Japan’s clothing imports from China decreased by 1.15, 1.46 and 3.11 percentage points respectively. At the same time, clothing imports from Vietnam and Bangladesh showed double-digit growth, and their market shares increased by 1.53, 1.41 and 1.63 percentage points respectively.” Zhang Jie He said that China’s textile and apparel share in traditional export markets such as Europe, the United States, and Japan is being replaced by competitors such as ASEAN, India, and Bangladesh.
Liu Jie believes that with the arrival of the traditional peak season of “Golden Nine and Silver Ten”, domestic demand may start slowly, and the return of foreign trade orders is also expected to accelerate.
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