International Textile Manufacturers Federation: Global textile industry operating conditions further deteriorate

The 17th Global Textile Industry Survey (GTIS) by the International Textile Manufacturers Federation (ITMF) (formerly the ITMF survey on the impact of the COVID-19 pandemic on the global textile value chain) shows that the overall business situation in the global textile industry further deteriorated in November 2022. At the same time, while global business expectations remained negative in six months, there was no further downward trend. Global order volume, order backlog, and capacity utilization indicators decreased.
According to the survey, businesses in three regions of Asia and Europe remained in distress. In North and Central America, business conditions improved significantly. Except for the textile machinery sector, which generally benefited from a long-standing order backlog, other sectors performed poorly, especially fiber producers and spinning mills. Global business expectations have been negative since July 2022, but have "stabilized" at around -10 percentage points (pp). Business expectations in South Asia rose sharply to +10pp, while those in Europe stood at -30 pp. Business expectations were negative across all sectors, with improvements seen in four out of seven sectors.
In November, order volumes fell sharply, consistent with the current business climate and weak demand, which are the biggest concerns of the global textile value chain. Only companies in North and Central America saw generally good order volumes; those in other regions faced insufficient orders. Order backlogs decreased except in Southeast Asia, North America, and Central America. Only the clothing and home textile industries, located downstream in the textile chain, saw an increase in order backlogs. In November 2022, capacity utilization fell in all regions. From an industry perspective, only the textile machinery sector saw an increase in capacity utilization; all other sectors experienced decreases.
"Weak demand" is currently the biggest concern for the global textile industry, followed by the root cause of weak demand: high inflation due to persistently high energy and raw material prices. The good news is that logistics costs are no longer a major concern. On the other hand, global concerns about geopolitical tensions have intensified again over the past two months.

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US textile and apparel imports fell sharply in October

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Bangladesh's national textile exports have declined significantly.

Leaders from Xiamen C&D Group visited Tongzhou for investigation and guidance

Leaders from Xiamen C&D Group visited Tongzhou for investigation and guidance

On March 3, Wang Yongqing, Vice President of Xiamen CNOOC Group, visited Tongzhou Group for investigation and guidance. Wei Gangmin, Chairman of our company; Huang Hongyu, President; Li Tao, Vice President; and Zhang Zhiyan, Director of the General Office, met with and participated in a symposium.

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Leaders from Xiamen C&D Group visited Tongzhou for investigation and guidance
Tongzhou Cotton Market Brief, Week 1 of March 2025

Tongzhou Cotton Market Brief, Week 1 of March 2025

1) This week's National People's Congress and the Chinese People's Political Consultative Conference (NPC & CPPCC) in China boosted market expectations for steady growth. In February, the Purchasing Managers' Index (PMI) for manufacturing stood at 50.2%, up 1.1 percentage points from the previous month, indicating a significant improvement in the manufacturing sector.

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Tongzhou Cotton Market Brief, Week 1 of March 2025
In 2024, China's exports of dyed and printed fabrics to Vietnam and Bangladesh increased significantly.

In 2024, China's exports of dyed and printed fabrics to Vietnam and Bangladesh increased significantly.

In 2024, China's dyeing industry saw rapid export growth to ASEAN and RCEP member countries, exceeding the overall export growth rate. However, this growth was accompanied by a decline in prices. From January to December, China's exports of eight major dyeing products to ASEAN totaled 7.908 billion meters, a year-on-year increase of 12.14%, 4.61 percentage points higher than the overall export growth rate, accounting for 23.58% of total exports. The average export price was US\$1.19 per meter, a year-on-year decrease of 2.75%, 0.64 percentage points lower than the overall decline. Exports to RCEP member countries totaled 8.431 billion meters, a year-on-year increase of 11.35%, 3.82 percentage points higher than the overall export growth rate. The average export price was US\$1.17 per meter, a year-on-year decrease of 2.79%, 0.60 percentage points lower than the overall decline.

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In 2024, China's exports of dyed and printed fabrics to Vietnam and Bangladesh increased significantly.
President Huang Hongyu was invited to attend the 2025 Zhangjiagang Cotton Industry Development Conference

President Huang Hongyu was invited to attend the 2025 Zhangjiagang Cotton Industry Development Conference

On February 28, Mr. Huang Hongyu, President of our company, was invited to attend the 2025 Zhangjiagang Cotton Industry Development Conference and, as a guest speaker at the "Xiangshan Roundtable," shared his views on the cotton market and trading opportunities.

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President Huang Hongyu was invited to attend the 2025 Zhangjiagang Cotton Industry Development Conference

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