The Sewing Machinery Industry Suffered The First Negative Growth In The First 5 Months Of This Year.

China Sewing Machinery Association 10 released 1 to May economic analysis of sewing machinery industry analysis report shows that after eight consecutive years of rapid development, affected by various factors in domestic and international environment and industry, the industry output value for the first time showed negative growth, overall production overall downward adjustment, corporate profits fell sharply, exports showed a downward trend.

According to Nagata Mihiro, director of the association, from 2008 to May, the main indexes of China's sewing machinery industry declined, and the growth rate slowed down to nearly 30 percentage points.

The total output value of industrial output totaled 6 billion 100 million yuan, down 21.76% from the same period last year, an increase of nearly 41 percentage points over the same period last year. The industrial added value was 1 billion 600 million yuan, down 27.01% from the same period last year, an increase of 32 percentage points. The total profits and taxes were reduced by 500 million yuan, down 43.04% from the same period last year, and the growth rate dropped by 45 percentage points.

Tian min Yu told reporters that between 2008 and May, 3 million 160 thousand sewing machines in the whole industry decreased by 24.71% compared with the same period last year, and 3 million 70 thousand sewing machines 3 million 70 thousand, down 27.40% from the same period last year.

The cumulative inventory of sewing machines 500 thousand, an increase of 27.29% over the same period.

In addition, the growth rate of import and export trade is slowing down.

According to the General Administration of customs, the total import and export trade of sewing machinery (excluding sewing equipment and spare parts) and spare parts from 1 to May amounted to US $780 million, down 4.88% from the same period last year, and the total trade volume showed a downward trend.

Exports increased by 22 percentage points, and import growth dropped by 20 percentage points.

Da Mihiro pointed out that after eight years of rapid development, the industry's output value for the first time showed negative growth.

The main reason is the rising cost, the macroeconomic situation at home and abroad, the impact of the domestic garment industry depression, and many years of rapid development of the industry.

He expects that demand for the international market will continue to grow in the second half of 2008, but the RMB appreciation, import and export tax rebates and other factors will continue to affect the expansion of industrial exports, and export prospects are not optimistic.

With regard to the domestic market, with the attention and support of the state to the textile and garment industry, it is likely that a small demand will rebound.