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China's Textile Export Growth Will Fall In The Three Quarter

2010/7/17 11:24:00 29

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

The latest export data released by the General Administration of Customs in July 12, 2010 showed that textile and apparel accumulated in 1-6 months.

Exit

88 billion 878 million US dollars, an increase of 22.04% over the same period, of which,

Textile exports

35 billion 652 million U.S. dollars, an increase of 32.31% over the same period, clothing and accessories exports $53 billion 226 million, 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 materials prices are rising, textile enterprises are forced to raise the unit price of products, 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 industry.

Export competitiveness

。

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, and the exchange rate 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%.