According to the customs statistics, in the first three quarters of this year, China's accumulated exports of garments and accessories, textile yarns, fabrics and products (hereinafter referred to as "textiles and garments") totaled 121.6 billion US dollars, down by 11.2% over the same period last year; among which, exports of textile yarns, fabrics and products amounted to 43.06 billion US dollars, down by 13.7%, and garment exports amounted to 78.54 billion US dollars, down by 10.2%. The main characteristics of its exports are as follows:
First, monthly export values have steadily recovered. After hitting the bottom in February this year, China’s monthly exports of textiles and garments quickly rebounded. Since March, except for slight fluctuations in May and August, there has been an overall steady recovery trend. In September alone, exports reached 16.74 billion US dollars, the peak monthly export value within the year, down by 7% year-on-year but up by 6.7% month-on-month (as shown in the chart below).
Second, general trade exports exceed 70%, while processing trade exports show a significant decline. In the first three quarters of this year, China exported textiles and garments worth 87.53 billion US dollars via general trade, down by 7.9%, accounting for 72% of the total exports of textiles and garments; during the same period, exports via processing trade amounted to 25.8 billion US dollars, down by 16.5%, accounting for 21.2%.
Third, the EU is the largest export market, with exports to the US and Japan showing counter-trend growth. In the first three quarters of this year, China’s exports of textiles and garments to the EU amounted to 27.14 billion US dollars, down by 8.3%; during the same period, exports to the US and Japan were 19.4 billion US dollars and 15.57 billion US dollars respectively, growing by 0.9% and 1.4% respectively. These three markets combined account for 51.1%, an increase of 4.2 percentage points compared to the same period last year. In addition, exports to Hong Kong and ASEAN amounted to 10.19 billion US dollars and 7.34 billion US dollars respectively, down by 16.6% and 8.7% respectively.
Fourth, private enterprises perform relatively well in exports, while foreign-invested enterprises and state-owned enterprises both see double-digit declines. In the first three quarters of this year, China’s private enterprises exported textiles and garments worth 53.58 billion US dollars, down by 5%, a decrease smaller than the overall decline of 6.2 percentage points in China’s textile and garment exports during the same period, accounting for 44.1% of the total value of China’s textile and garment exports. During the same period, foreign-invested enterprises and state-owned enterprises exported 40.36 billion US dollars and 21.37 billion US dollars respectively, down by 11.2% and 20.9% respectively, accounting for 33.2% and 17.6% respectively.
Fifth, Zhejiang, Guangdong, and Jiangsu rank top three in exports. In the first three quarters of this year, these three provinces exported textiles and garments worth 29.48 billion US dollars, 22.49 billion US dollars, and 19.79 billion US dollars respectively, down by 8.4%, 8.4%, and 10.6% respectively, combining to account for 59% of the total value of China’s textile and garment exports during the same period.
With the improvement of the domestic market and the gradual stabilization of overseas markets, plus the fact that on April 1, 2009, the state increased the export tax rebate rate for textiles and garments to 16%, China’s textile and garment exports have gradually regained vitality. However, due to the negative effects of the global economic crisis not yet being eliminated, the prospects for international demand for textiles and garments remain unclear, and long-term orders and large orders are still relatively scarce in the short term. According to a recent survey by the China Textile Chamber of Commerce on 200 large textile enterprises, their orders dropped by 20% to 30% in the first three quarters; at the same time, procurement agents from the European and American markets are also using the increase in export tax rebates as a reason to pressure for price cuts. Moreover, due to the overall contraction of external demand, India, Vietnam, and other developing countries are also facing significant difficulties in clothing exports, leading to obstacles in the export of raw materials such as textile yarns, fabrics, and products from our country.
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