Apparel / Textiles & Accessories

Since the global epidemic was lifted this year, the effect of "home consumption" has weakened, and the growth of my country's textile foreign trade exports has slowed down significantly, and has turned from rising to falling. Customs data shows that in the first eight months, the cumulative export of my country's home textile products was basically flat year-on-year, and there was a certain decline in August. The proportion of exports of household products has been reduced, and the exports of the Yangtze River Delta provinces and cities have shown a downward trend, and their share in major markets has generally remained stable, but the growth rate is lower than that of major competitors.

Cumulative slight growth, exports fell in August

According to customs data, from January to August, China's home textile exports reached US$21.83 billion, a slight increase of 0.7% year-on-year. The cumulative increase was 1.2 percentage points lower than the previous month, and 10.3 percentage points lower than the overall growth rate of textiles and clothing.

From the perspective of specific products, the export of pure household products such as bedding and curtains decreased by 3.9% and 13.4% respectively; the export of products that can be used outdoors such as blankets, tablecloths and kitchen utensils increased rapidly, with an increase of 13.9% respectively. , 24.9% and 13.9%; exports of towels, carpets and other decorative products maintained a slight growth, with an increase of between 1% and 5%.

According to customs data, in August, the export of home textiles was 3 billion US dollars, a year-on-year decrease of 6.2%, of which exports to the United States and the European Union fell by 20.62% and 11% respectively. Since the global consumption trend has shifted from home to travel and services, my country's home textiles, as a product that enjoyed the "home dividend" in the first two years of the epidemic, bear the brunt of the impact.

The decline in exports to the United States has further expanded, and ASEAN has surpassed Japan to become China's third largest market

In the first eight months, the export of home textile products to the United States was 7.08 billion US dollars, down 3.9%, and the cumulative decline was 3.2 percentage points higher than the previous month; the export to the EU was 2.95 billion US dollars, an increase of 0.4%, and the cumulative increase was 2.1 percentage points narrower than the previous month; Exports to Japan were US$1.89 billion, an increase of 1.9%, and the cumulative increase was 0.3 percentage points higher than the previous month.

Among other major markets, driven by the implementation of RCEP dividends, China's exports to ASEAN have maintained rapid growth, with an export value of US$2.45 billion, an increase of 21.5%. ASEAN has surpassed Japan to become China's third largest textile export market. Exports to the UK and South Korea fell sharply, by 21% and 11.5% respectively.

The export of the Yangtze River Delta provinces and cities is on a downward trend, and the recovery is relatively slow

In the second quarter of this year, Shanghai, Jiangsu and other Yangtze River Delta provinces and cities slowed down their exports due to the control of the epidemic. Since the third quarter, exports have gradually recovered, but the overall trend is still declining, and the recovery process is relatively slow. In the first eight months, Zhejiang, Jiangsu, Shandong, Shanghai and Guangdong ranked the top five in the country's textile exporting provinces and cities. The exports of Shandong and Guangdong maintained steady growth, with an increase of 6.1% and 7.6% respectively, and the cumulative growth rate was 1.7 and 1.2 percentage points lower than that of the previous month. The exports of Zhejiang, Jiangsu and Shanghai decreased by 1.5%, 5.8% and 9.5% respectively. Among them, the decline in Shanghai narrowed by 1.5 percentage points from the previous month, and the decline in Zhejiang and Jiangsu further expanded.

Among other provinces and cities, Hunan, Hubei, Xinjiang, Sichuan and Shaanxi have experienced rapid export growth, with an increase of more than 50%.

Rising prices support exports

In the first eight months of this year, the export unit prices of my country's curtains, table fabrics, bedding, blankets, towels and carpets increased by 10.5%, 4.2%, 4.4%, 1%, 2.5% and 10.3% respectively year-on-year, which largely supported the Exports have remained stable and have yet to show a significant decline.

The main market share remains stable overall, but the growth rate is lower than that of major competitors

According to GTF statistics and customs data, from January to July, the United States imported 11.19 billion US dollars of home textile products, an increase of 1.4%, and the cumulative growth rate narrowed by 0.6 percentage points from the previous month, and the cumulative growth rate has narrowed for three consecutive months. China ranked first in imports, with an import value of US$4.87 billion, an increase of 2.6%, accounting for 43.5% of the US import share, an increase of 0.5 percentage points over the same period last year. Among other countries, U.S. imports from Pakistan and Vietnam increased rapidly, with an increase of 12.5% and 29.7% respectively.

From January to July, the EU imported 6.77 billion US dollars of home textile products, an increase of 12.2%, and the cumulative growth rate was 3.1 percentage points lower than that of the previous month. China ranked first in imports, with an import value of US$2.42 billion, an increase of 11.5%. The cumulative growth rate was 3.7 percentage points lower than that of the previous month, accounting for 35.7% of the EU's import share, which was basically the same as the same period last year. Among other countries, the EU's imports from Pakistan, Bangladesh and Vietnam have grown rapidly, with a growth rate of more than 25%.

From January to June, Japan imported 1.95 billion US dollars of home textile products, an increase of 2.6%, and the cumulative growth rate increased by 0.2 percentage points from the previous month, and the cumulative growth rate increased slightly for two consecutive months. China ranked first in imports, with an import value of 1.45 billion US dollars, an increase of 3%, and the cumulative growth rate increased by 0.7 percentage points over the previous month, accounting for 74.5% of Japan's import share, 0.3 percentage points higher than the same period last year. Among other countries, Japan's imports from Vietnam grew relatively fast, with an increase of 6.6%.

In the fourth quarter and next year, my country's home textile foreign trade exports are facing greater pressure

First, overall international demand has weakened. The growth rate of imports from the United States and Europe has gradually narrowed for more than two consecutive months. At the same time, according to data from the U.S. Department of Commerce, according to customs data, in August, furniture and household goods became one of the worst categories of U.S. retail sales, down 1.6% year-on-year and month-on-month. 1.3%.

Second, domestic production costs continue to rise. Enterprises report that the current rising cost of raw materials and labor has further weakened my comparative advantage in price in the international market. The price of foreign cotton such as US cotton continues to rise, and the price difference between domestic and foreign cotton is about 6,000 yuan / ton, which greatly increases the cost of cotton for enterprises.

Third, international economic and trade frictions have added high uncertainty to future exports. The US market accounts for 32.5% of our home textile exports. Since the implementation of the so-called "Xinjiang-related Act" in the United States on June 21, it has brought great trouble to home textile export enterprises.

Looking forward to the export situation in the fourth quarter and next year, due to high global inflation, increasing pressure on retailers to destock, and trade frictions, superimposed on a high base last year, my country's home textile exports have an obvious downward trend this year. Next year, with the increasing risk of global economic recession, home textile exports will undoubtedly face more severe challenges.