China's textile trade volume reached 30.5 billion U.S. dollars in August

In August this year, China's textile and apparel trade volume was 30.54 billion U.S. dollars, an increase of 13.7% year-on-year. Among them, exports were 28.04 billion U.S. dollars, an increase of 14%; imports were 2.5 billion U.S. dollars, up 10.1%, and the monthly trade surplus was 25.54 billion U.S. dollars, an increase of 14.4%. From January to August, the cumulative trade volume of textiles and garments was US$20.06 billion, an increase of 12.7% year-on-year. Among them, exports accounted for $182.95 billion, an increase of 12.9%; imports accounted for $17.68 billion, an increase of 10.3%; cumulative trade surpluses totaled $165.27 billion, an increase of 13.2%.

Internal and external favorable promotion of export growth In August, China's textile and apparel exports continued the rapid growth in July and maintained a double-digit increase in exports. The reasons for the increase are the slow recovery of the economy in the major economies of the international market and the increase in consumers’ willingness to consume. In the domestic market, thanks to the trade facilitation measures promulgated by the State Council and a series of macroeconomic policies supporting exports, the export confidence of enterprises has increased, and the business environment and trade environment have improved. In July and August, the exchange rate of *** against the U.S. dollar was relatively stable, with no significant appreciation and sharp fluctuations.

Imports and exports of general trade increased by 8 months, and exports from major trade modes all increased. General trade increased by 13.4%, processing trade increased by 6.8%, and border trade grew by 68%. On the import side, general trade increased by 25.3%, while small-scale trade on the border increased by 96%. Unlike the national trade in goods, the import of processing trade in textiles and clothing did not show a significant increase, but instead it fell by 5.5%. The proportion of processing trade in the overall import and export has further declined. From January to August, exports from general trade increased by 13.3%, processing trade increased by 1.6%, and small-frontier trade increased by 60.8%. Processing and import trade and export respectively decreased by 4.5 and 1.1 percentage points from the previous year's total level.

Export Profile EU market has recovered According to the statistics released by Eurostat, in the second quarter, the EU’s GDP grew by 0.4% compared to the first quarter, and annualized inflation dropped to 1.5% in August, indicating a weak recovery. In August, China’s exports to the EU continued its upward trend in July and continued to grow. The monthly export was 5.95 billion U.S. dollars, an increase of 13.5%, of which textile exports increased by 17.6% and apparel exports increased by 12.6%. From January to August, China’s exports to the EU increased by 6.1%, of which the export volume of key commodities, knitted and woven garments, increased by 5.5%, and the price increased by 1.1%. This year, the EU market, the relatively cheap knitwear sales optimistic about the first eight months, the cumulative export volume of knitted garments increased by nearly 7%, while woven garments increased by only 3% over the same period, of which only the price of cheaper chemical fiber woven garment exports to achieve increase.

The optimistic outlook for the US market was driven by the slow recovery of the market. In August, China’s exports to the United States continued to grow, with exports of US$4.5 billion in the month, which was the highest in the year and an increase of 7.7% year-on-year. Textiles and clothing increased by 17% and 5.3%, respectively, and textiles grew faster than clothing. The growth rate of fabrics in textiles was the fastest, with an increase of 31.8%. In apparel, the export volume of knitted and woven garments increased by 1.8%, and the price increased by 4.1%. From January to August, the cumulative growth of exports to the United States was 6.3%, of which the export volume of major commodities, knitted and woven garments, increased by 6%, and the price rose by 2.4%.

The growth of the ASEAN market continued unabated in August. China’s exports to ASEAN continued to grow at a rapid rate. The month’s exports increased by 52.6%, of which fabrics accounted for a major share of 53% growth, and apparel increased by 62%. From January to August, China's total exports to ASEAN increased by 44.8%, of which fabrics increased by 33.7% and garments increased by 74.3%. In clothing, the export volume of knitted and woven garments increased by 40% and the price increased by 25%. The pulling effect of clothing on overall export growth reached 25 percentage points, surpassing textiles.

Since the Japanese market continued to slump in the second half of the year, the Japanese economy still showed no sign of recovery and the consumer sentiment was low. Coupled with the continued low fluctuations in the Yen exchange rate and the impact of order shifts, China’s exports to Japan were once again facing a decline. Although the monthly export volume reached the high point of the year, it still showed a negative growth compared with the same period of last year, a decrease of 2.8%. Among them, textiles and clothing all decreased, and the main share of knitted and woven garments decreased by 2.7% due to the decline in export prices. From January to August, total exports to Japan rose by 0.5% to US$16.88 billion. The export volume of knitwear and woven garments of major commodities increased by 2.2%, and the average export price fell by 1.4%.

The average unit price of apparel exports hit a new high in the year in August, China’s textile exports increased by 16.7%, and apparel exports increased by 12.7%, of which major categories of yarn exports increased by 6.1%, fabrics increased by 22.2%, and knitted and woven apparel exports reached 3.2 billion ( Sets), the average export unit price of 4.94 US dollars / piece (sets), both hit a new high during the year, year-on-year increase of 9.3% and 3.3%. From January to August, the exports of the three major categories of commodities increased by 5.7%, 15.9%, and 13.6% respectively.

Import Overview Yarn imports reached the peak in the year in August, China's textile imports increased by 9.4%, clothing imports increased by 12.3%, and yarn imports continued to grow most rapidly among the major categories of goods. Among them, the import of key cotton yarns reached 203,000 tons in the month, hitting a new high during the year, and the unit price of imports fell slightly from the previous period; the import of knitted and woven garments still showed a trend of volume increase and decrease, the import volume increased by 20.7%, and the average import unit price decreased by 3.6. %. Since the beginning of the year, the import volume and price of silk have fluctuate drastically. In February and April, the monthly import volume was close to 10 times the difference. From April to June, the import price rose rapidly and once even reached an astronomical price of nearly $60,000/ton. In July and August, it quickly fell back to less than 20,000 U.S. dollars per ton. From January to August, the cumulative import volume of cotton yarns increased by 43.9% and the average import price dropped by 1.1%; the import volume of silk yarns remained flat, the import unit price increased by 208%; the imports of knitted and woven garments increased by 26.4%, and the average import price dropped by 6.4. %.

The slowdown in cotton imports slowed down in August, and cotton imports continued to fall, but the decline narrowed to 9.7%, and fell back to less than 10% for the first time in nearly seven months. Import prices were unchanged from the previous month, a year-on-year decrease of 6.8%. From January to August, the cumulative import of cotton was 3.025 million tons, a drop of 20%, and the average import price was US$1990/ton, a decrease of 15.6%. According to the data released by the China Cotton Association, in August, the China 328 cotton price index was 19,189 yuan***/ton, when the mid-level cotton import price index was 15,257 yuan/ton (according to 1% tariff), and the cotton price gap between the month and the outside was 3962 yuan. / Ton, the spread narrowed by 136 yuan from the previous month.

EU market: China's share continues to decline According to EU customs statistics, in the first half of the year, the EU imported textiles and clothing worth US$56.42 billion, an increase of 0.3%. Among them, textiles increased by 3.4% and apparels decreased by 0.8%. Under the circumstances that overall imports have increased, the EU’s imports from China have fallen by 5.5%, while imports from ASEAN have been slow, only increasing by 1.7%. Turkey and Bangladesh became the main driving force for the EU's imports to increase. The EU's imports from these two regions increased by 7.2% and 7%, respectively. These two places accounted for 25% of the EU market share, an increase of 1.7 percentage points over the same period of last year. In the first half of the year, the share of China's textile and apparel products in the EU market further shrank to 34.9%, which was 2.2 percentage points lower than the same period of last year. During the same period, the share of ASEAN in the European market was little changed, and it was basically the same.

US market: The growth rate of imports from China is no match for ASEAN According to U.S. customs statistics, from January to July, US textile and apparel imports totaled 64.28 billion U.S. dollars, an increase of 3%, of which textiles increased by 2.5% and apparel rose by 3.2%. Textiles and apparel imported from China increased by 2%, and imports from ASEAN increased by 6.4%. The export growth of ASEAN China Vietnam to the United States is the fastest, with an increase of more than 10% to 13.2%. The market share of Chinese products in the United States was 36.8%, a slight decrease of 0.4% from the same period of last year. The ASEAN market share in the United States was 19.6%, which was an increase of 0.6% from the same period last year.

Japanese market: China’s share lost by ASEAN According to statistics from Japan’s customs, from January to July, Japan’s textile and apparel imports totaled US$22.79 billion, a decrease of 1.7%, of which textiles declined by 5.2% and apparels decreased by 0.7%. Imports from China amounted to 15.97 billion U.S. dollars, a decrease of 3.7%, and imports from ASEAN increased by 8.8%, of which imports from Vietnam and Indonesia increased by 10.9% and 11.4% respectively. The share of Chinese products in the Japanese market was 70.1%, which was a decrease of 1.5 percentage points from the same period of last year, while ASEAN’s share in Japan rose to 15.5%, an increase of 1.5 percentage points from the same period of last year.