National yarn export overview
According to China Customs statistics, the national yarn export value in 2016 was US$10.86 billion, a year-on-year decrease of 1.3%. The depreciation of the RMB against the US dollar locks in corporate profits, which is a substantial benefit to export companies. The average unit price of exports was US$2.42/kg, down 11.6% year-on-year. The decline narrowed, as the volume increased and the price fell. The import amount was US$7.39 billion, a year-on-year decrease of 16.9%, and the decline rate narrowed; the average unit price of imports was US$2.87/kg, a year-on-year decrease of 3.1%, and the decrease rate narrowed.
1. In December, the export value of silk yarn increased, while the export value of chemical fiber yarn, cotton yarn and wool animal hair yarn decreased
Silk thread exports increased by 1.1%. The export value of cotton yarn and wool animal hair yarn decreased, with exports of US$610 million, US$130 million, and US$40 million respectively, down 1.2%, 1.3%, and 48.1% respectively year-on-year.
2. In 2016, exports to ASEAN, the EU and Latin America increased, while exports to Japan and North America decreased.
Exports to ASEAN in 2016 were US$1.73 billion, an increase of 2.1%. Exports to the Philippines were US$140 million, an increase of 18%.
Exports to the EU continued their eight-month upward trend, with exports reaching US$1.14 billion, an increase of 2.6%. Exports to Portugal increased significantly, with exports of US$90 million, an increase of 17.9%. Exports to Latin America increased by 15%. Exports to Brazil had the largest increase, with exports reaching US$320 million, an increase of 46.9%.
Exports to Hong Kong were US$1.25 billion, down 18.7%. Exports to Japan were US$370 million, down 4.5%. Exports to North America declined, by 4%. Exports to the United States were US$500 million, a year-on-year decrease of 2.8%.
3. Among the major exporting provinces and cities, Zhejiang ranks first, and Shandong has the largest export growth.
Coastal provinces are the main force in yarn exports. Among the top ten provinces and cities in annual exports, Shandong has the largest growth, with an increase of 17.8%. 14 provinces and cities exported more than 100 million US dollars.
4. The export unit price of wool animal hair yarn has increased, while the export unit price of chemical fiber yarn, silk thread and cotton yarn has declined.
In 2016, the export unit price of wool animal hair yarn was 31.35 US dollars/kg, an increase of 2.4%; chemical fiber yarn, silk thread, and cotton yarn decreased by 12.2%, 4%, and 9.9% respectively.
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