In October, my country’s exports to the EU continued to show a double-digit decline. Exports for the month were US$3.31 billion, a decrease of 12.4%, of which textiles fell by 4.1%, and the decline in clothing expanded to 15.1%, which was only lower than in February during the year. Cumulative exports to the EU from January to October were US$41.33 billion, a decrease of 6.1%, of which textiles increased by 1.4% and clothing decreased by 8.3%.
The main features of export are as follows:
1. The export volume of cotton yarn has increased significantly
From January to October, China’s yarn export volume to the EU was 402 million kilograms, a year-on-year increase of 14.64%, and the export value was US$966 million, a year-on-year increase of 3.88%. The growth rate was slightly narrower than the first three quarters. Among them, the export volume of cotton yarn was 13.1733 million kilograms, a year-on-year increase of 29.47%, and the export value was US$71.3943 million, an increase of 18.08%, which drove the overall performance of yarn exports; the export volume of chemical fiber yarn was 290 million kilograms, an increase of 15.27%. However, it was affected by the decline in unit price. The export value increased by only 0.60%; the export volume of wool yarn increased by 8.81%, and the average unit price increased by 9.24%.
2. The export volume of cotton cloth increased sharply and the export unit price dropped sharply
From January to October, China exported 2.409 billion meters of fabrics to the EU, a year-on-year increase of 9.80%. The export volume was US$3.215 billion, a year-on-year increase of 1.97%. The export unit price dropped by 7.12%. Among them, the export volume of cotton cloth was 282 million meters, a year-on-year increase of 22.18%, and the export unit price dropped sharply 18.59%, resulting in a slight decrease of 0.53% year-on-year in export value, reaching 368 million US dollars; the export volume of chemical fiber cloth was 1.401 billion meters, a year-on-year increase of 10.19%, and the export value was 16.04 billion US dollars, an increase of 4.72%, which is better than the 4.10% growth in the first three quarters; the export of silk woven fabrics was 16.5724 million meters, a year-on-year decrease of 7.41%, and the export value was 109 million US dollars, a year-on-year decrease of 10.92%. It is worth mentioning that this category last year Product exports have fallen by 25% and have failed to recover this year, showing a dismal performance; other fabric exports were 658 million meters, a year-on-year increase of 4.21%, and the export value was US$1.100 billion, a slight increase of 0.37% year-on-year.
3. The export unit price of manufactured goods has declined
From January to October, China exported US$5.881 billion of manufactured products to the EU, a slight increase of 0.70% year-on-year, and the export unit price dropped 17.39% year-on-year. During this period, the export volume of the three major categories of textile commodities increased, and there were obvious signs of recovery. Among them, the export of non-woven fabrics was 161 million kilograms, a year-on-year increase of 10.76%, the export unit price fell by 4.40% year-on-year, and the export volume reached 549 million US dollars; the export of home textiles was 2.50 billion US dollars, a year-on-year decrease of 1.94%, and the average export unit price dropped by 14.75% year-on-year; other products The export of finished products was US$1.866 billion, an increase of 2.79%, and the export unit price dropped by 22.42%.
4. The export of knitted and woven garments has not yet resumed growth
From January to October, China’s apparel exports to the EU were US$31.265 billion, a year-on-year decrease of 8.30%, with a total export of 12.709 billion pieces (sets), a year-on-year increase of 4.09%. Among them, knitted garment exports were 3.478 billion pieces (sets), a year-on-year decrease of 2.12%, and the export volume was US$12.368 billion, a year-on-year decrease of 9.25%. The average price was US$3.56/piece (set). The export of woven garments was 2.465 billion pieces (sets), a year-on-year increase of 3.65%, and the export volume was US$14.655 billion, a year-on-year decrease of 8.42%. The average price was US$5.95/piece (set). The export volume of other clothing decreased by 2.56% year-on-year, and the export value decreased by 9.31%.
5. The value-added value of major provinces and cities exporting to the EU fell
Looking at the provinces exporting to the EU, the top six provinces and cities exporting to the EU are still Zhejiang, Guangdong, Jiangsu, Fujian, Shanghai, and Shandong. However, compared with the same period last year, the export volume of the above-mentioned provinces and cities to the EU has increased. Growth, especially Shandong’s export volume increased by 16.22% year-on-year. However, due to the decline in export unit prices, the above-mentioned provinces and cities all experienced negative growth in exports to the EU, with Shanghai experiencing a larger decline, down 11.31% year-on-year.
