Market Downturn&Nbsp; Textile Exports To Japan Declined

According to the data of China Customs and the Japanese Ministry of Finance, from January to April 2010 spin The export volume of clothing products declined year on year, and the textile export volume to Japan was in the same period in China spin The proportion of total exports to the world and the share in Japan's textile market are declining. Although Japan's economy as a whole is still recovering, considering the sluggish textile and clothing sales in Japan, as well as the impact of other uncertainties, it is still difficult to be optimistic that China's textile exports to Japan are not strong enough to rebound in the later period.

Exports to Japan show a downward trend

According to Chinese customs data, from January to April 2010, China's textile and clothing exports to Japan amounted to US $6.849 billion, a year-on-year decrease of 3.67%, and the growth rate was 8.08 percentage points lower than that of the same period last year (4.41%). In comparison, the year-on-year growth rate of China's textile and clothing exports to the major markets of the United States and the European Union from January to April was 20.61% and 16.34% respectively, and the growth rate increased by 21.81 percentage points and 27.65 percentage points respectively year on year. In terms of proportion, from January to April, China's textile and clothing exports to Japan, the United States and the European Union accounted for 12.39%, 15.53% and 20.52% of China's total textile and clothing exports in the same period, respectively. The proportion of exports to Japan fell by 2.50 percentage points compared with the same period last year, while the proportion of exports to the United States and the European Union rose by 0.62 percentage points and 0.10 percentage points respectively.

Further from the statistical data of Japan, according to the data of the Ministry of Finance of Japan, the total amount of textiles and clothing imported from China by Japan from January to April 2010 was 7.846 billion US dollars, a cumulative year-on-year decrease of 4.52%, and the growth rate dropped by 11.46 percentage points compared with the same period last year (6.94%). Although there are errors in the amount of textiles and clothing imported from China by Japan due to the difference in the statistical caliber between China and Japan, the data from Japan also shows that the amount of textiles and clothing imported from China by Japan is also declining at the growth level.

In terms of proportion, according to the data of the Ministry of Finance, Japan's total imports of textiles and clothing from the world from January to April 2010 were US $10.246 billion, and Japan's imports of textiles and clothing from China accounted for 76.57% of its total imports from the world, 1.82 percentage points lower than the same period last year (78.40%).

Although overall, Japan's total domestic commercial sales rebounded well, it was mainly driven by sales growth of Japanese metal minerals, electrical machinery and appliances, fuel and other industries; However, the sales of textiles and clothing are still sluggish, which is the main reason for the decline of China's textile and clothing exports to Japan. According to the data of the Ministry of Economy, Trade and Industry of Japan, Japan's total commercial sales (including wholesale and retail) in April 2010 was 42054 billion yen, up 3.8% year on year, and the growth rate rose 26.2 percentage points over the same period of the previous year, and has been growing for two consecutive months. In April, the total sales volume of Japanese textile and clothing products was 1771 billion yen, down 9.18% year on year; The wholesale volume of textiles was 238 billion yen, down 0.2% year on year, and the growth rate turned negative from March (3.9%); The wholesale volume of clothing and clothing accessories was 630 billion yen, down 23.7% year on year, continuing to be low; The retail sales of clothing products were 903 billion yen, up 2.0% year on year, better than the wholesale sales, but the growth rate was 5.8 percentage points lower than that in March (7.8%).

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In addition, our country in Japan spin While the share of the apparel market declined, the share of competitors Vietnam and Thailand in the Japanese market increased. From January to April 2010, Japan imported 418 million dollars of textiles and clothing from Vietnam, up 3.59% year on year; Japan accounted for 4.08% of the total imports of global textiles and clothing, up 0.24 percentage points over the same period last year. From January to April, Japan imported 204 million dollars of textiles and clothing from Thailand, up 5.52% year on year; It accounted for 1.99%, up 0.15 percentage points over the same period last year. The growth of Vietnam's textile exports to Japan, on the one hand, is due to Vietnam's low labor cost advantage, and on the other hand, due to the implementation of the Vietnam Japan Economic Partnership Agreement (VJEPA), Vietnam's textile products can enter the Japanese market duty-free.

Japan's economy continues to improve, and uncertainties remain

According to the data of the Cabinet Office of Japan on June 10, the year-on-year growth rate of Japan's GDP in the first quarter of 2010 was revised to 5%, higher than the initial value of 4.9%, and it has achieved positive growth for four consecutive quarters. The data released by the Ministry of Economy, Trade and Industry of Japan on June 14 showed that Japan's industrial production index in April was 96.0 after seasonal adjustment, up 1.3% month on month, reflecting the continued recovery of industrial production. The manufacturing purchasing managers' index (PMI) released by Nomura Securities and Japan Material Management Association (JMMA) shows that Japan's manufacturing PMI was 54.7 in May, which has been in the expansion area for 11 consecutive months. In addition, Japan's consumer confidence index rose to 42.8 in May, the highest level since October 2007, indicating that Japan's consumer confidence is rebounding.

However, some uncertain factors still exist in the process of Japan's economic recovery. First of all, in the context of the spread of the European sovereign debt crisis, Japan's national debt problem also caused concern. Japan's national debt in fiscal year 2009 (April 2009 to March 2010) has increased to 882.92 trillion yen, a record high; According to the data of the International Monetary Fund in April 2010, the total debt of Japan has reached 229% of its GDP, ranking first among OECD member countries. Secondly, Japan's unemployment rate is still high. In April 2010, Japan's unemployment rate rose to 5.1%, the highest since the beginning of 2010.

China's export to Japan spin The amount of clothing products accounts for more than 10% of China's total textile exports to the world; China accounts for more than 75% of the Japanese textile and clothing import market. Although Japan's economy as a whole still maintains a recovery trend, considering that Japan's domestic textile and clothing consumption is still sluggish, as well as Japan's huge national debt, and the persistently high unemployment rate, China's textile and clothing exports to Japan will still be weak in the later period.