China textile and apparel exports in Jan-Jul 2023

发布日期：2023-09-01 作者：CCFGroup 点击：

Export has always been a market concern. After the release of domestic demand in China, whether demand outside China could rebound will become a key to the market for the latter half year. Here we have an analysis on structure different and change among the various products in textile and apparel chain from the perspective of exports.

Export value and quantity

According to China customs data, denominated by US dollar, China textile and apparel export value dropped by 10% year-on-year during Jan-Jul 2023.

After the conversion to the calculation based on metric tons, the export trend of Category 50-63 in textile and apparel chain is shown in the chart below. The export quantity fell by 1% on year in the first 7 months of 2023.

Therefore, it can be seen that besides from the exchange rate, the decline in price is another factor that results in the fall in export value during Jan-Jul 2023.

Yarn, textile and apparel

Category 50~55 is regarded as fiber, yarn and fabric, 56~60 as fabric finished product, 61~63 as apparel, then, the growth of exports during Jan-Jul is shown below.

Category	Product	Y-O-Y growth in Jan-Jul 2023
50~55	Fiber, yarn and fabric	4%
56~60	Fabric finished products	-2%
61~63	Apparel	-6%
Total		-1%

It is divided only to facilitate the calculation.

Category	Product
50	Silk
51	Wool, fine or coarse animal hair; horsehair yarn and its woven fabric
52	Cotton
53	Other plant textile fibers; Paper yarn and its woven fabrics
54	Chemical fiber filament; Flat strips and similar products made of chemical fiber textile materials
55	Chemical staple fiber
56	Wadding, felt and non-woven fabrics; Special yarn; Thread, rope, cable and its products
57	Carpets and other textile floor coverings
58	Special woven fabrics; Tufted fabric; Lace; Decorative blanket; Decorative tape; Embroidery
59	Textile fabrics impregnated, coated, covered or laminated; Industrial textile products
60	Knitted and crocheted fabrics
61	Knitted or crocheted clothing and accessories
62	Non-knitted or non-crocheted clothing and accessories
63	Other textile products; Complete set of items; Old clothing and textiles; Broken fabric

It seems that yarn exports were relatively strong, recording positive growth, while finished product exports were comparatively weak and apparel exports were even worse amid high pressure.

On annual basis, exports of Category 54 recorded continuous increase on year, while products of other Categories logged increase only in Mar and Apr, and Category 61 saw sharp decline on year.

Compared to the month earlier, exports of Category 54 recorded month-on-month drop in Jul, down by 60kt. Under this category, exports of polyester filament yarn fell by 34kt on month, filament yarn fabric exports slipped 25kt on month in Jul. The drop in PFY exports was mainly attributed to India's BIS while influencing factors on filament yarn exports were mixed.

As for apparel under Category 61~63, the exports saw rebounds in recent months, but the growth was mainly attributed to seasonal factor, and the exports still showed a downtrend compared to the same period of last year.

Generally speaking, the export growth slowed down in 2023, but it varied from products to products. In yarn sector, chemical fiber yarn and fabric performed well, while apparel sector was relatively weak. Besides from PFY, apparel exports increased seasonally, but were still weak compared to the same period of last year.