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Textile Industry Export Growth Will Fall In The Three Quarter.

2010/7/17 14:36:00 45

In the first half of this year, China's textile and clothing exports grew rapidly.

Latest update issued by Customs General Administration on July 12, 2010

Exit

Data show that 1-6 months of textile and apparel exports totaled $88 billion 878 million, an increase of 22.04% over the previous year, of which 35 billion 652 million of textile exports, an increase of 32.31% over the same period, exports of clothing and accessories 53 billion 226 million U.S. dollars, an increase of 16.02%.

However, for the future, we should not be too optimistic. The export growth of the textile industry will fall in the three quarter.

The driving force of market demand is not sustainable. It is still a major hidden trouble affecting the steady growth of textile industry exports.

The latest economic survey data show that Asia, Europe and the United States are slowing down the pace of manufacturing expansion, and the momentum of global economic recovery is showing signs of gradual extinction.

In July 1st, the China logistics and purchasing Federation (CFLP) announced that China's Manufacturing Purchasing Managers' index (PMI) in June was 52.1%, down 1.8 percentage points from the previous month, and for second consecutive months. This shows that the pace of China's economic growth is continuing to slow down.

The Global Manufacturing Purchasing Managers Index (PMI) dropped from 57 in May to 55, and global manufacturing growth slowed again in June.

On the other hand, textile raw material prices are rising, and textile enterprises are forced to increase their products.

Unit Price

But once the unit price is raised, the export volume is bound to be affected.

With the end of the first batch of replenishment in Europe and America in 5 and June, orders for textile enterprises are decreasing, and some overseas orders have begun to turn to low-cost countries such as India, Bangladesh and Vietnam.

Thirdly, the appreciation of RMB further weakened the export competitiveness of the industry.

After the central bank announced the resumption of foreign exchange reform and increased the elasticity of RMB exchange rate, the renminbi appreciated against the US dollar.

Data from the China Foreign Exchange Trading Center show that in July 14th, the central parity rate of RMB against the US dollar was 6.7755; and the day before the implementation of the exchange rate reform, the central parity rate of RMB against the US dollar was 6.8275 in June 21st.

exchange rate

It has risen by more than 0.8%.

A trader in Shanghai said, "the original purchase of goods in Renminbi, using US dollars as the export currency, now costs 0.8% more, and in dollar terms, it is now less than RMB 0.8%.

In this way, we will bear about 1.6% of the cost increase. "

In the entire industry's exports, orders settled in US dollars accounted for 70%.