Apparel / Textiles & Accessories

According to import and export data, China imported 1936700 tons of cotton (14345, - 20.0, - 0.14%) in 2022, a decrease of 212000 tons or 9.87% compared with 2021. Among them, the import volume of American cotton was 1.1321 million tons, accounting for 58.46%, ranking first for three consecutive years, with an increase of 303300 tons, or 36.59%, compared with 2021; Brazil imported 577300 tons of cotton, accounting for 29.81%, ranking second for three consecutive years, with a decrease of 6.66 million tons or 10.34% compared with 2021.

In 2022, domestic textile enterprises started and stopped, cotton consumption demand fell, and the price difference between domestic and foreign cotton was reversed for a long time, resulting in a decline in total imports. The import and export data showed that in 2021/22, China and India's cotton production decreased, India's cotton production was insufficient, and the export shrank. The country was exempt from the cotton import tax from April 14 to October 31, 2022, while American cotton production increased in 2021/22. Before the serious inversion of the domestic and foreign cotton price difference, domestic enterprises locked a large number of American cotton resources. Therefore, in 2022, China's cotton imports to the United States will maintain growth, while Brazil's cotton imports will decline slightly, and India's cotton imports will shrink by 90.50% compared with 2021.

China's cotton yarn import in 2022 was 1.1764 million tons, a decrease of 939800 tons or 44.41% compared with 2021. Among them, Vietnam's yarn import volume was 674900 tons, accounting for 57.37%, ranking first for seven consecutive years, with a decrease of 335000 tons or 33.17% compared with 2021; Pakistan's yarn import volume was 144900 tons, accounting for 12.32%, ranking second, with a decrease of 137100 tons or 48.62% compared with 2021; India's yarn imports decreased by 82.82%, accounting for 4.91%, ranking from second to fourth.

In 2022, the domestic textile enterprises were under-started, the yarn consumption was reduced, and the total import volume fell sharply. India, Indonesia, Uzbekistan and other imported yarns had no competitive advantage, and the import volume fell significantly.

According to import and export data, China's cotton yarn export volume in 2022 was 281200 tons, a decrease of 9700 tons or 3.33% compared with 2021. In 2022, China's yarn production will decline, and domestic cotton mills will mainly use Xinjiang cotton as raw material. Some foreign trade markets have relevant requirements for the origin of cotton. Therefore, even if the domestic cotton yarn price has a high international competitive advantage, the overall export situation is still tepid.

In 2022, China's cotton cloth import volume was 233 million meters, an increase of 39 million meters or 20.38% over 2021. From June to December 2022, the unit price of cotton cloth imports continued to decrease, and the import cost in December was 1.08 US dollars per meter, constantly breaking the record low. Therefore, in the second half of 2022, the import demand will increase and continue to catch up until it exceeds the level of 2020 and 2021.

According to import and export data, China's cotton export volume in 2022 was 6.475 billion meters, down 960 million meters or 12.91% from 2021, lower than the average of the previous four years. In 2022, the domestic cotton production capacity was insufficient, and the export unit price was 1.82 US dollars per meter, 8.54 percentage points higher than that in 2021, which was unfavorable to the foreign trade market. In addition, affected by the economic downturn and other factors, the global textile consumption demand declined. From July to December 2022, the monthly export volume and export value of China's cotton cloth continued to decline.

On the whole, the import and export data in 2022 reflect the heavy pressure on the production and operation of domestic cotton textile enterprises and the weakness of the foreign trade market. With the optimization and adjustment of domestic epidemic prevention policies, the market mentality has gradually improved, and there are expectations for domestic consumption prospects; The global economy is ragged, the expected growth rate is still facing downward pressure, and the export situation may still be grim.