From January to November 2024, China's exports of yarn and fabrics to ASEAN continued to grow.
ASEAN is the largest market for my country's yarn exports, accounting for over 20% of the total export value. From January to November, my country's exports of textiles and garments to ASEAN reached US\$47.81 billion, a year-on-year increase of 6.9%. Exports of intermediate products such as yarn and fabrics totaled US\$25.04 billion, a year-on-year increase of 11.4%. Yarn exports reached US\$2.88 billion, a year-on-year increase of 18.8%; fabric exports reached US\$22.16 billion, a year-on-year increase of 10.5%. In terms of product structure, exports to ASEAN are mainly chemical fiber yarn, accounting for over 75%, while cotton yarn accounts for 12%.
In November alone, yarn exports to ASEAN reached US\$270 million, a year-on-year increase of 22.4%. This is mainly due to the US market entering a replenishment cycle, and the EU simultaneously driving growth in orders for yarn, fabrics, and other intermediate products.
Vietnam From January to November, my country's yarn exports to Vietnam reached US\$1.35 billion, a year-on-year increase of 22.8%. In November alone, my country's yarn exports to Vietnam reached US\$130 million, a year-on-year increase of 30.1%.
The recovery in demand for garments and other finished products in the US and Europe has driven Vietnam's demand for intermediate products from my country. From January to October 2024, Vietnam's textile and garment exports to the US increased by 5.7%, to Japan by 0.1%, and to the EU by 5.8%.
Cambodia From January to November, my country's yarn exports to Cambodia reached US\$380 million, a year-on-year increase of 34.4%. In November alone, my country's exports to Cambodia reached US\$240 million, a year-on-year increase of 20.6%.
Myanmar From January to November, my country's yarn exports to Myanmar reached US\$88 million, a year-on-year decrease of 17.7%; in November alone, my country's yarn exports to Myanmar reached US\$6.99 million, a year-on-year decrease of 11%. Due to the political situation and sanctions from Europe and the US, my country's exports of intermediate products to Myanmar have declined.
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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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
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