Overview of national textile and apparel trade
In April 2017, the total import and export value of national trade in goods was US$321.96 billion, a year-on-year increase of 9.7%. Among them, exports were US$180 billion, an increase of 8%; imports were US$141.96 billion, an increase of 11.9%. The trade surplus for the month was US$38.05 billion. From January to April, the total import and export value was US$1.22214 billion, a year-on-year increase of 13.6%. Among them, exports were US$662.74 billion, an increase of 8.1%; imports were US$559.4 billion, an increase of 20.8%, with a cumulative trade surplus of US$103.34 billion.
In April, the textile and apparel trade volume was US$23.36 billion, an increase of 2.6%, of which exports were US$21.61 billion, an increase of 3.6%, and imports were US$1.75 billion, a decrease of 7.9%. The trade surplus for the month was US$19.86 billion, an increase of 4.8%. From January to April, the textile and apparel trade volume was US$83.91 billion, basically unchanged, of which exports were US$76.51 billion, a slight decrease of 0.3%, imports were US$7.41 billion, an increase of 3%, and the cumulative trade surplus was US$69.1 billion, a decrease of 0.6%.
1. Exports maintain growth momentum and the prospects are still promising.
Relying on the rapid growth in March, the cumulative export volume in the first quarter rebounded significantly. Exports continued to grow in April, driving exports in the first four months to be basically the same as the same period last year. Although the monthly export growth rate has declined compared with March, the growth momentum is still maintained, and the export prospects are promising.
2. Emerging trade formats have driven a rebound in exports, but general trade has not yet resumed growth.
In April, the trade method that drove export growth was still “other” trade methods, mainly tourism trade and market procurement trade, with an increase of 81.3% in the month. During the same period, exports of general trade and processing trade have not yet resumed growth. From January to April, exports of general trade and processing trade decreased by 3.8% and 7.2% respectively, while other trade increased by 77.6%. In terms of imports, general trade increased by 11.3% and processing trade decreased by 5.7%.
3. The United States and Japan provided positive impetus to export growth, while the EU and ASEAN markets recovered slowly.
European Union—Exports to the EU still show negative growth, and the downward trend in clothing has not changed.
Exports to the EU have not yet resumed growth. Exports in April were US$3.1 billion, down 4.4%, which negatively impacted overall exports, with textiles and clothing falling by 3.5% and 4.9% respectively. Cumulative exports to the EU from January to April were US$12.68 billion, down 3.5%, of which textiles fell by 0.3% and clothing fell by 4.9%. The total export volume of needle-woven garments for major categories of commodities fell by 0.9%, and the average export unit price fell by 4.4%.
United States – Exports to the United States have picked up, and yarn exports have continued to rise.
Exports to the United States showed signs of recovery. In April, exports to the United States were US$3.27 billion, an increase of 8.9%, an increase of 5 percentage points higher than the average, becoming the main market driving overall export growth. From January to April, cumulative exports to the United States were US$12.36 billion, an increase of 1.6%. Among them, textiles and clothing increased by 5.6% and 0.1% respectively. Since 2014, my yarn exports to the United States have been growing. The export volume in 2016 increased by nearly 30% compared with 2013, but the export price has fallen year after year. In the first four months of this year, export volume continued to rise, with an increase of 8.3%, and the export unit price remained at a low level. The total export volume of needle-woven garments increased by 3.7%, and the export unit price fell by 4.1%.
ASEAN—The market lacks growth momentum and is recovering slowly.
The ASEAN market has not yet seen a significant improvement. Due to the lack of growth momentum, exports to ASEAN only increased by 1.6% in April and are still on the edge of decline. Cumulative exports to ASEAN from January to April were US$10.19 billion, down 3.8%, of which textiles fell by 1.2% and clothing fell by 11%. The total export volume and price of medium-needle woven apparel fell by 4.1% and 9% respectively.
At present, the 10 ASEAN countries lack a “leader”. Vietnam and the Philippines, which have grown rapidly in the past few years, have performed mediocrely recently. Exports to Vietnam have continued to decline, and the growth rate of exports to the Philippines has also gradually declined.
Japan – Exports to Japan have improved slightly.
Exports to Japan further showed signs of recovery. In April, exports to Japan were US$1.75 billion, an increase of 11.8%. The growth rate exceeded the average and continued to increase. Textiles and clothing grew by 15.3% and 11% respectively. From January to April, among the key export markets, only exports to Japan and the United States achieved growth. Cumulative exports to Japan were US$6.5 billion, an increase of 1.9%. Textiles and clothing increased by 5.1% and 1.1% respectively. The total export volume of knitted and woven clothing for major categories of commodities increased by 7.1%, and the export unit price decreased by 5.3%.
4. Export prices of major categories of commodities still show no obvious signs of recovery.
Textile and clothing exports increased by 1.6% and 5.4% respectively in April. Among the major categories of commodities, yarn, fabrics, and textile finished products all achieved slight growth of less than 2%, and needle-woven garments grew by 5.6% driven by export volume. The prices of export commodities still show no obvious signs of recovery and are in a state of fluctuation.
From January to April, textile exports increased slightly by 0.4%, and clothing dropped by 0.8%. Major categories of commodity yarns and finished products maintained a slight growth, while fabrics declined. The total export volume of needle-woven clothing increased by 3.1%, and the export unit price was affected by Relatively low-priced knitted garments dragged down the overall decline by 4.3%. The price of knitted garments fell by 12%. The export price of woven garments maintained a slight increase of 1.5%.
5. Guangdong and other provinces have exerted a positive influence on exports, with Xinjiang leading the growth rate.
Among the country’s key provinces and cities, Guangdong, Jiangsu, Shandong, Shanghai, Jiangxi, Hebei and Xinjiang mainly contributed to exports in April, while Zhejiang and Fujian experienced declines. January-April��Among the top five regions, Guangdong, Jiangsu and Shandong increased by 8.9%, 6.4% and 6.3% respectively, while Zhejiang and Fujian decreased by 0.8% and 18.4% respectively. Xinjiang, a key province along the Belt and Road Initiative, grew by 28.4%, ranking among the top in the country.
6. Textile imports fell in volume and prices increased, while clothing imports increased in volume and prices fell.
Textile and clothing imports fell again in April, with textiles falling by 9.5% and clothing falling by 2.4%. Among the major categories of commodities, yarn and fabrics both experienced a decrease in volume and an increase in price, and the import volume declined relatively rapidly. On the contrary, needle-woven clothing showed an increase in volume and a decrease in price, with import volume increasing by 1% and unit price falling by 3.6%.
From January to April, imports of textiles and clothing increased by 3.6% and 1.4% respectively. Among the major categories of commodities, yarn and textile finished products achieved growth of 11.5% and 1.2% respectively. Fabrics and needle-woven clothing decreased by 5.5% respectively. % and 0.4%.
7. Cotton imports remain high, and domestic and foreign cotton prices tend to be in line.
Since the beginning of the year, cotton imports have maintained rapid growth. In April, imports of 105,000 tons continued to remain high, with a year-on-year increase of 50.2%. From January to April, the cumulative import volume was 479,000 tons, an increase of 71.4%, and the average import price increased by 8.1%.
According to the monthly report released by the China Cotton Association, in April, the sales of textile companies’ products were lower than the previous month, especially the slow sales of downstream gray fabrics. Financial pressure has increased, and companies have become cautious about raw material procurement; however, the lowest price of reserve cotton bidding The continued rise has brought support to the spot market. The overall performance of domestic spot cotton prices was weak at first and then strong, but stopped falling and rose again in the second half of the month. China’s cotton price index (CCIndex3128B) was 15,949 yuan/ton at the end of the month, an increase of 87 yuan/ton from the end of last month. The average monthly transaction price was 15,872 yuan/ton, a month-on-month decrease of 61 yuan/ton, but a year-on-year increase of 3,855 yuan/ton.
In April, the higher-than-expected exports of U.S. cotton continued to provide strong support to the international cotton market. At the same time, the reserve price of cotton from the state reserve continued to increase to boost confidence. The foreign cotton futures and spot markets rose simultaneously, the focus of trading shifted upward, the linkage between domestic and foreign spot prices increased, and the price difference narrowed significantly, and was once close to the same level in the middle of the month. China’s imported cotton price index FCIndexM averaged 87.93 cents/pound per month, up 1.49 cents from the previous month. On the last trading day at the end of the month, it was 88.55 cents/pound, up 2.11 cents/pound from the end of last month. The 1% tariff discounted RMB 15,599. yuan/ton, which is 350 yuan/ton lower than China’s cotton price index in the same period, and the price difference narrowed by 385 yuan compared with the same period last month. The price difference between the two once shrank to 67 yuan on April 24 in the middle of the month.
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