China's home textile product exports increased year-on-year from January to July 2024
From January to July this year, China's household textile exports totaled US\$18.98 billion, a year-on-year increase of 4.3%, accounting for 11.2% of the country's total textile and apparel exports. Since the beginning of this year, the home textile industry has shown the strongest performance among the various sub-sectors of China's textile and apparel exports, with a growth rate 3.1 percentage points higher than the national average for the same period.
Major sub-categories of export products show steady growth. Bedding, carpets, rugs, kitchen and bath textiles, curtains, towels, and tablecloths are the main sub-categories of China's home textile exports. In the first seven months, except for a significant decline in towel exports, other products all achieved positive growth to varying degrees. Specifically, bedding exports reached US\$8.19 billion, an increase of 5.5%; carpet exports reached US\$2.47 billion, an increase of 7.3%; rug exports reached US\$2.01 billion, a slight decrease of 0.1%; kitchen and bath textile exports reached US\$1.88 billion, an increase of 9.3%; curtain exports reached US\$1.75 billion, an increase of 7.4%; tablecloth exports reached US\$0.49 billion, an increase of 9.7%; other products exports reached US\$1.07 billion, an increase of 6.1%. In the first seven months, towel exports reached US\$1.13 billion, a significant decrease of 14.7%.
The main reasons are: a 32.9% plunge in exports to ASEAN, the largest market, with exports to Thailand and the Philippines falling by 43.2% and 45.2% respectively; and a 38.6% decrease in exports to Russia. The slowdown in rug exports is mainly due to the decline in exports to major markets such as the UK, the UAE, and Saudi Arabia, with decreases of 18.8%, 21.6%, and 22.4% respectively. Market performance varies. Exports to the US, EU, Central Asia, and Latin America surged. China's top five home textile export markets are the United States, the European Union, ASEAN, Japan, and Australia. In the first seven months, exports to the United States reached US\$6.1 billion, a year-on-year increase of 11.9%, accounting for 32.2% of China's home textile exports, maintaining a recovery trend. Since August last year, exports to the US have steadily increased for many months. The United States has become a key factor in driving positive growth in China's home textile exports. In the first seven months, exports to the European Union reached US\$2.46 billion, a year-on-year increase of 9.3%, accounting for 13%; exports to ASEAN reached US\$2.2 billion, a decrease of 3%, accounting for 11.6%, with exports to Malaysia increasing by 15.1%, making Malaysia the third largest single-country market for China's home textile exports; exports to Japan reached US\$1.35 billion, a decrease of 4.8%, accounting for 7.1%; exports to Australia reached US\$0.65 billion, a decrease of 4.8%, accounting for 3.4%. In the first seven months, exports to the six GCC countries reached US\$0.73 billion, a decrease of 14.1%; exports to the five Central Asian countries reached US\$0.56 billion, maintaining a high growth rate of 25.1%; exports to Africa reached US\$0.68 billion, a decrease of 17.6%; exports to Latin America reached US\$1.18 billion, with a growth rate as high as 18%.
Strong growth in Zhejiang and Jiangsu; rapid growth in Fujian and Xinjiang. Zhejiang, Jiangsu, Shandong, Guangdong, and Shanghai are China's top five regions for home textile exports. In the first seven months, Zhejiang and Jiangsu showed good growth, Guangdong stabilized, while Shandong and Shanghai saw slight declines. Zhejiang's exports reached US\$6.2 billion, an increase of 9.6%; Jiangsu's exports reached US\$4.15 billion, an increase of 9.1%; Shandong's exports reached US\$2.48 billion, a slight decrease of 0.5%; Guangdong's exports increased by 2.7%, and Shanghai saw a slight decrease of 0.4%. Other regions with faster growth include: Fujian, with exports of US\$0.58 billion, a sharp increase of 47.9%; and Xinjiang, with exports of US\$0.55 billion, a surge of 50.9%.
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.
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