Growth of Chinese fabric exports from January to July 2024
Intermediate goods exports grew faster than textile and apparel exports in the first seven months of the year
From January to July 2024, textile and apparel exports totaled US\$1700.4 billion, a year-on-year increase of 1.3%. Exports of intermediate goods such as yarn and fabrics reached US\$470.3 billion, a year-on-year increase of 3.1%. Yarn exports totaled US\$81.7 billion, down 1.1% year-on-year, while fabric exports reached US\$388.7 billion, up 4.1% year-on-year. Export growth was mainly driven by fabrics.
The "volume for price" strategy has yet to alleviate the situation, and export profits remain thin
Fabrics, the main driver of growth in intermediate goods exports, are still experiencing price declines, and the "volume for price" strategy has not been effective. From January to July, fabric exports totaled 33.01 billion meters, a year-on-year increase of 7.1%, while prices fell by 2.1%. Company surveys show that while current orders are slightly higher than last year, export values are low, and profits are thin.
Significant increase in yarn imports and price drop from January to July
From January to July, textile and apparel imports totaled US\$122.2 billion, a year-on-year increase of 3.2%. Yarn and fabric imports totaled US\$47.4 billion, a year-on-year increase of 1.4%. Yarn imports increased by 2.8% in value and 8.2% in volume, while the unit price fell by 5% year-on-year. Fabric import value decreased by 1.3% year-on-year, while import volume remained flat, and the unit price decreased by 1.2%.
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.
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.
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.
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.
Henan Tongzhou Cotton Industry Co., Ltd.
Contact
Henan Tongzhou Cotton Industry Co., Ltd.
Address: 10th Floor, Henan Nongxin Building, No. 19 Commercial Outer Ring Road, Zhengdong New District,Zhengzhou, China
Tel：86037165836206
Email：tongzhou@tongzhoucotton.com
Mobile
CopyRight © 2025 Henan Tongzhou Cotton Industry Co., Ltd.