Since 2022, affected by the complex and severe domestic and foreign macroeconomic situation and multiple unexpected factors, my country’s textile industry has been under pressure from both supply and demand, and the economic operation has shown a slowdown. However, since the third quarter, with the implementation of the national economic stabilization package and subsequent policy measures, the operating environment of the textile industry has stabilized and the domestic demand market has gradually improved.
Looking forward to the fourth quarter and 2023, various uncertain and unstable factors still exist, and development pressure remains prominent. The textile industry will insist on in-depth structural adjustment, accelerate transformation and upgrading, steadily release development resilience and anti-risk capabilities, and strive to promote high-quality development of the industry to achieve new results in complex situations.
The growth rate of production and sales has slowed down, and the overall economy continues to be under pressure
Since 2022, affected by factors such as the slowdown in world economic recovery and frequent domestic epidemics, the domestic and external market demand for textiles and clothing has been overall weaker than last year. Superimposed on the impact of high fluctuations in raw material prices, the overall growth rate of production and sales in the textile industry has shown Slow down.
According to data from the National Bureau of Statistics, in the first three quarters of 2022, the national textile industry and chemical fiber industry capacity utilization rates were 77.6% and 83.3% respectively, both down by about 2 percentage points from the same period last year, but still higher than the 75.5% of the national industry in the same period. Capacity utilization level.
The industrial added value of textile enterprises above designated size nationwide decreased by 0.4% year-on-year, operating income increased by 3.1% year-on-year, and total profits decreased by 23.6% year-on-year. The growth rates all slowed down compared with the same period last year.
From the perspective of the entire industry chain, the mid- and downstream printing and dyeing, filament weaving, clothing and other sub-industries are generally operating well, with production and sales indicators achieving positive growth; although the production and sales scale of the home textile industry has shrunk, profitability is stable; the upstream chemical fiber and cotton spinning industries are affected by raw materials Affected by factors such as high prices and difficulty in transmitting costs along the industrial chain, profitability pressure is more prominent.
With the pace of production and sales slowing down, the overall prosperity of the textile industry continues to be under pressure. According to survey data from the China Textile Industry Federation, the textile industry prosperity index in the third quarter was 44.3%, continuing to be in the contraction range, down 2 percentage points from the second quarter, but rising by 1.7 percentage points compared with the first quarter.
The domestic sales market is improving and the total export volume is growing steadily.
In the first three quarters, affected by the epidemic, the growth rate of the domestic demand for textiles and clothing has slowed down compared with the same period last year, but there are still many hot spots for consumption upgrades such as national fashion brands and sports and health in the market.
In the third quarter, as the country’s policy of stabilizing growth and promoting consumption took effect, domestic sales of textiles and clothing showed an improvement trend, and the indicator growth rate has gradually picked up since June.
Data from the National Bureau of Statistics show that in the first three quarters, retail sales of clothing, shoes, hats, and knitted textiles above designated size in my country decreased by 4% year-on-year, and the decline was 2.5 percentage points narrower than in the first half of the year. Online retail channels have maintained steady growth. In the first three quarters, national online retail sales of clothing products increased by 4.7% year-on-year, and the growth rate accelerated by 2.3 percentage points from the first half of the year.
Driven by the rising prices of finished products driven by raw materials, the export growth of the textile industry has been good, and the total export volume has reached a record high. China Customs data shows that my country’s textile and apparel exports totaled US$248.35 billion in the first three quarters, a year-on-year increase of 9.1%, and the growth rate was 3.6 percentage points higher than the same period last year. Among the major categories of products, the export value of textiles was US$114.33 billion, a year-on-year increase of 8.7%; the export value of clothing was US$134.02 billion, a year-on-year increase of 9.4%. Among the major export markets, my country’s textile and apparel exports to the United States, the European Union, and Japan increased by 2.4%, 9.5%, and 2% respectively year-on-year. Exports to markets along the “Belt and Road” and RCEP trading partner countries increased by 17.7% and 15.6% year-on-year respectively. .
Complex situations test development resilience and start a new journey of high-quality development
In the first three quarters of this year, my country’s textile industry actively resisted downward risk pressure, worked hard to repair the losses caused by the epidemic under pressure, and demonstrated good development resilience. In the fourth quarter, although the external situation is still very complex, with the further implementation of various national policies and measures and the arrival of traditional peak consumption seasons such as National Day and “Double Eleven”, the economic operation situation of the textile industry is expected to remain basically stable under the support of the domestic cycle. .
Looking forward to 2023, the development environment faced by the textile industry will become more complex and severe. From an external perspective, with the complex evolution of the international political situation and increasing constraints on economic recovery such as high inflation, there is high uncertainty in the prospects of the international market. Intensified market competition and rising risks in the foreign trade environment will all affect the ability of textile companies to resist risks. Forming a new round of tests. However, from a domestic perspective, the textile industry still has the basic conditions for stable development.
The 20th National Congress of the Communist Party of China was successfully held, and my country has begun a new journey to comprehensively build a modern socialist country. It will continue to efficiently coordinate the results of epidemic prevention and control and economic and social development, ensure that my country’s macroeconomic fundamentals are improving in the long term, and create opportunities for the stable operation of the textile industry chain. In a good environment, the domestic demand market still has room for upgrade and development based on its large capacity. Since the third quarter, the national economy has recovered and improved, and positive factors have accumulated, which is conducive to the textile industry further smoothing the industrial chain cycle based on domestic demand. Although the constraints caused by the epidemic such as restricted consumption scenarios and lack of consumer confidence are difficult to completely eliminate in the short term, there is still room for development in the combination of consumer hotspots such as national trends, big health, and sustainability with the textile industry.
Overall, the textile industry is still under great pressure to maintain stable operation in 2023. Deepening transformation and upgrading, improving development resilience, and resolving risks and challenges are still the themes of industry development. The textile industry will fully implement the spirit of the 20th National Congress of the Communist Party of China and the decisions and arrangements of the State Council, adhere to the general tone of “seeking progress while maintaining stability”, comprehensively coordinate the high-quality development priorities of science and technology, fashion and green, and strive to consolidate the foundation for stable economic recovery. Continuously activate the potential for high-quality development, continue to give full play to the positive role of the textile industry in ensuring production supply, stimulating domestic demand vitality, improving employment and income, and achieve the goal of stable operation of our national economy and start a new era of comprehensively building a modern socialist country with high quality. Make due contributions to the journey.