In March this year, the national textile and apparel trade volume was US$20.92 billion, an increase of 9.8%, of which exports were US$18.64 billion, an increase of 11.5%, and imports were US$2.28 billion, a decrease of 1.9%. The trade surplus for the month was US$16.36 billion, an increase of 11.4%. . From January to March, the national textile and apparel cumulative trade volume was US$64.36 billion, an increase of 0.9%, of which exports were US$58.13 billion, an increase of 0.4%, imports were US$6.23 billion, an increase of 5.8%, and the cumulative surplus was US$51.9 billion, a decrease of 0.2%.
Exports fluctuated violently in each month of the first quarter
A slight growth has been achieved in the first three months
In the first quarter of this year, textile and apparel exports fluctuated violently each month, with export volume and year-on-year growth ups and downs. Cumulative exports only increased by 0.4%, the same growth rate as the same period in 2012, and the start was dull. The artificially high year-on-year base is one of the reasons for the slowdown in export growth. If the mainland’s export data to Hong Kong is excluded, cumulative exports in the first quarter can achieve a growth of 1.6%. In addition, the slowdown in my country’s export growth to emerging markets and the fluctuation of the RMB exchange rate also had an impact on the instability of exports and the decline in growth in the first quarter.
General trade exports fell slightly in the first quarter
In recent years, general trade exports have maintained stable and rapid growth, and their share has continued to rise. However, in the first quarter of this year, the total exports of general trade were US$43.57 billion, a decrease of 0.5%, which was the first decline in exports in the first quarter in the past five years. Processing trade increased by 1.1%, and border small-scale trade increased by 13.1%. The decline in general trade exports indicates the weakening of my country’s ability to develop independent textile and apparel exports, sending a signal of a slowdown in exports. The decline in general trade exports may be temporary, and the export performance in the second quarter must be observed in the future.
The decline in clothing unit prices has led to a decrease in exports
In the first quarter, national textile exports were US$23.04 billion, a year-on-year increase of 2.1%, of which yarn decreased by 3.9%, fabrics increased by 1.7%, and finished products increased by 4.4%. Among yarns, the volume of cotton yarn and silk yarn decreased and the price increased, the volume of chemical fiber yarn increased and the price decreased, and the volume and price of wool yarn both decreased. Clothing exports were US$35.09 billion, down 0.6%. Among them, the export volume of bulk commodities knitted and woven clothing maintained a growth of 6.3%, but the average unit price of exports fell by 6.4%, resulting in a decline in overall clothing exports.
Export growth rates to major markets vary
To the EU: achieve double-digit growth
In the first quarter, the EU was the most active. my country’s textile and apparel exports to the EU were US$11.09 billion, an increase of 10.2%, the fastest growing among key markets. Among them, textile exports increased by 10.2% and clothing exports increased by 10.1%. The total export volume of bulk commodities knitted and woven garments increased by 11.4%, and the average unit price fell slightly by 0.9%.
For the United States: Textiles are growing faster than clothing
Driven by the gradual stabilization of the U.S. economy, in the first quarter, my country’s exports to the United States were US$8.36 billion, an increase of 2%, of which textiles increased by 4.2%, clothing increased by 1.2%, and the growth rate of textiles exceeded that of clothing. The export volume of bulk commodities knitted and woven garments fell slightly by 0.7%, and the average unit price increased by 1.9%.
For ASEAN: Growth has slowed down significantly
In recent years, ASEAN has been the fastest growing market for my country’s textile and apparel exports. From 2011 to 2013, the average annual growth rate reached 30%. However, in the first quarter of this year, the growth rate of my country’s exports to ASEAN slowed down significantly, with exports amounting to US$7.28 billion, an increase of only 1.3%. In the early period, my country’s garment exports to ASEAN, which grew rapidly, fell by 6.7%. Among them, knitted and woven garments dropped by 5.6% in total, mainly due to falling prices. Export volume still achieved rapid growth of 26.8%. Textile exports increased by 7.1%, yarn increased by 8.2%, fabrics increased by 3.6%, and finished products increased by 16.6%. Specific to the ten countries in ASEAN, my country’s exports to Vietnam, Cambodia and other countries have maintained growth and are growing rapidly; while exports to Malaysia, Singapore and other countries have an obvious downward trend.
To Japan: Clothing export volume and price dropped
Except for Hong Kong, China (down 15.2%), among key markets, in the first quarter, my country’s exports to Japan only declined, with exports amounting to US$5.6 billion, down 7.3%. Among them, textiles increased by 3.4% and clothing decreased by 9.5%. Among clothing, the total export volume of knitted and woven clothing fell by 4.6%, and the average unit price fell by 6.3%.
Double-digit growth in imports of major commodities
The proportion of clothing imports continues to expand
In the first quarter, the country’s textile imports were US$4.81 billion, an increase of 1.9% compared with the same period in 2013; clothing imports were US$1.43 billion, an increase of 21.7%. Among textiles, imports of yarn and finished products maintained growth, while imports of fabrics declined.
In the first quarter, the key commodity cotton yarn did not continue last year’s high growth, with import volume only increasing by 5.9% and import unit price falling by 2.5%. The proportion of clothing in imports further expanded, rising to 22.9% in the first quarter, an increase of 3.2 percentage points from last year. Among them, the total import volume of knitted and woven clothing reached 120 million pieces (sets), an increase of 55.4%, and the average unit price of imports decreased by 19.6%.
Cotton imports fall, prices rise
In the first quarter, a total of 760,000 tons of cotton were imported, a decrease of 44.3%. Affected by the increase in international cotton prices, the average unit price of imports increased by 7.5%. In March, as companies waited for newWith the implementation of the cotton reserve policy, most people are in a wait-and-see attitude, spot transactions have stagnated, and prices have turned from rising to falling. The monthly average price of China Cotton Price Index (CCIndex3128B) is 19,440 yuan/ton, a month-on-month decrease of 15 yuan. During the same period, the monthly average price of China’s imported cotton price index FCIndexM was 99.02 cents/pound, an increase of 1.52 cents from the previous month. The 1% tariff and sliding tax discounted RMB are 15,422 yuan/ton and 16,319 yuan/ton respectively, which are lower than the Chinese cotton price index of 3,998 yuan and 3,121 yuan respectively in the same period, and the price difference narrows by 298 yuan and 206 yuan respectively.
Imports from major markets only dropped slightly from Japan
EU: Imports continue to resume growth
According to EU customs statistics, from January to February, the EU imported US$23.3 billion in textiles and clothing from the world, an increase of 6.7%. Among them, textile imports were US$5.44 billion, an increase of 9.3%, and clothing imports were US$17.87 billion, an increase of 5.9%. Imports from China were US$8.93 billion, an increase of 5.5%, and imports from ASEAN were US$1.93 billion, an increase of 5.1%. Chinese products account for 38.3% of the market share in the EU, 8.3% in ASEAN, 13.5% in Turkey, and 11.1% in Bangladesh.
United States: Imports from China declined slightly
According to U.S. Customs statistics, from January to February, U.S. textile and apparel imports amounted to US$18.71 billion, an increase of 0.9%. Among them, textile imports were US$4.23 billion, an increase of 1.7%, and clothing imports were US$14.48 billion, an increase of 0.7%. Imports from China were US$7.1 billion, down 1.9%, mainly due to a 10% drop in February. Imports from ASEAN were US$3.76 billion, an increase of 1.6%. The market share of Chinese products in the United States was 38%, down 1 percentage point from the same period in 2013. ASEAN’s market share in the United States is 20.1%, basically the same as last year.
Japan: China’s share continues to decline
According to Japanese customs statistics, from January to February, Japan’s textile and clothing imports totaled US$6.32 billion, a decrease of 0.7%, of which textile imports were US$1.4 billion, an increase of 7.9%, and clothing imports were US$4.92 billion, a decrease of 3%. Imports from China were US$4.16 billion, a decrease of 6.4%, and imports from ASEAN were US$1.18 billion, an increase of 19.8%. The share of Chinese products in the Japanese market dropped to 65.8%, a decrease of 4 percentage points from the same period in 2013. ASEAN’s share in Japan rose to 18.7%, an increase of 3.2 percentage points from the same period in 2013.
