In October 2016, the total import and export value of national trade in goods was US$307.3 billion, a year-on-year decrease of 4.9%. Among them, exports were US$178.18 billion, down 7.3%; imports were US$129.12 billion, down 1.4%. The trade surplus for the month was US$49.06 billion. The total import and export value from January to October was US$2.98148 billion, a year-on-year decrease of 7.6%. Among them, exports were US$1,711.55 billion, down 7.7%; imports were US$1,269.93 billion, down 7.5%, with a cumulative trade surplus of US$441.61 billion.
In October, the textile and apparel trade volume was US$23.24 billion, down 9.1%, of which exports were US$21.43 billion, down 9.4%, and imports were US$1.81 billion, down 5.2%. The trade surplus for the month was US$19.62 billion, down 9.8%. From January to October, the textile and apparel trade volume was US$241.36 billion, down 5.9%, of which exports were US$222.29 billion, down 5.4%, and imports were US$19.07 billion, down 10.9%. The cumulative trade surplus was US$203.22 billion, down 4.9%.
1. Falling prices have caused continued negative growth in exports.
At the beginning of the fourth quarter, textile and apparel trade still showed no signs of returning to growth, with imports falling for the sixth consecutive month and exports falling for the fifth consecutive month. Although the recent continued appreciation of the U.S. dollar against the RMB has been beneficial to exports, commodity prices denominated in U.S. dollars have declined. Most export prices of key commodities have declined to varying degrees. The export price index fell by 9.2% that month, and the export quantity index was basically the same as the same period last year. A slight decrease. The decline in imports was due to both volume and price declines.
2. Both general trade and processing trade exports experienced double-digit declines, and market procurement maintained growth.
Exports by major trade modes continued their downward trend in October, with the declines reaching double digits. Exports of general trade and processing trade fell by 10.2% and 20.9% respectively. Other trade methods based on market procurement were the only way to effectively promote exports, with an increase of 47.9% in the month.
Exports of general trade and processing trade fell by 4.8% and 17.4% respectively from January to October; market procurement trade increased by 31.6%, and the proportion further increased to 5.9%.
3. Exports declined, and the overall performance of major markets was poor.
European Union—Exports to the EU continued to decline by double digits, and the decline in apparel exports expanded.
Exports to the EU continued to show double-digit declines in October. 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. Among them, the key commodity needles and shuttles The total export volume of textiles and clothing fell by 6%, and the average export unit price fell by 9%. 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%, clothing decreased by 8.3%, the total export volume of knitted clothing increased by 0.2%, and the export unit price decreased by 9%.
United States—Exports to the United States are slowing and stabilizing.
Exports to the United States have experienced negative growth for seven consecutive months. Exports in October were US$3.67 billion, a decrease of 6.1%. Among them, the export volume of large categories of needle-woven garments fell by 3.9%, and the export unit price fell by 3.7%. Although the decline is still not out of the question, the decline in exports to the United States has gradually narrowed, remaining within 10% for four consecutive months. There has been no consecutive double-digit decline in other key markets, and the market is relatively stable.
Cumulative exports to the United States from January to October were US$37.81 billion, down 6.2%, of which textiles fell by 5.1% and clothing fell by 6.6%. The export volume of needle-woven garments fell by 2.8%, and the average export unit price fell by 2.6%.
ASEAN – The growth in textile exports has stabilized the ASEAN market.
Although exports to ASEAN fell by 10.2% year-on-year in October, the export volume rebounded from the previous period. Exports for the month were US$2.87 billion, exceeding the third quarter average, and the market showed a slight stabilization trend. This was mainly driven by a 2.5% increase in textiles and a 33.5% decrease in clothing. Among major categories of commodities, yarn and fabrics increased by 4.4% and 2.9% respectively, while the export volume of knitted and woven garments decreased by 9%. The export prices of major commodities fell further, with yarn falling by 5.7%, fabrics falling by 11.5%, and knitted garments falling by 27.8%. Cumulative exports to ASEAN from January to October were US$27.35 billion, a decrease of 4.5%, of which textiles increased by 2.8% and clothing decreased by 19.6%. Among them, the export volume of needle and woven clothing decreased by 5%, and the average export unit price decreased by 16.5%.
Exports to the Philippines resumed growth, with an increase of 24.4% in October and a cumulative increase of 45.3% from January to October.
Japan – Exports to Japan have continued to decline sharply, and both volume and price of clothing exports have dropped.
Exports to Japan have experienced negative growth for two consecutive months, falling by 12.5% in October, a decline greater than that of other major markets. Key commodity clothing fell by 14.6%, of which the total export volume of needle-woven clothing fell by 6.3%, and the export unit price dropped by 8%. From January to October, cumulative exports to Japan were US$17.03 billion, a decrease of 5.8%. Among them, textiles decreased by 2.1%, clothing decreased by 6.8%, the total export volume of needle and woven clothing decreased by 1.2%, and the average export unit price decreased by 5.3%.
According to Japanese customs statistics, the share of Chinese products in Japan dropped to 61.6% from January to September, while the share of imports from ASEAN rose to 23.1%.
4. Export prices of major categories of commodities generally fell.
After a brief and rapid decline in September, textile exports rebounded slightly in October, with the decline narrowing to 6.7% that month, of which yarn, fabrics and finished products fell by 5.6%, 8.4% and 4.7% respectively. The total export volume of medium-needle and woven clothing decreased by 2.4%. The export unit prices of major categories of commodities generally fell: the unit price of yarn fell to the lowest during the year, falling 9.4% year-on-year and 5.7% month-on-month; fabrics fell 9.3%.Knitted clothing fell by 9.7%, a decrease of nearly 10%.
From January to October, textile and clothing exports decreased by 3.3% and 6.8% respectively, of which yarn and fabrics decreased by 1.7% and 3.7% respectively. The total export volume of needle and woven clothing decreased by 0.5%. The export unit prices of the three major categories of commodities were respectively Down 13%, 8.1%, 6.5%.
5. Shandong and Fujian’s exports fell by double digits that month, while Hunan and Sichuan grew rapidly.
Exports from all major provinces and cities across the country fell in October. Zhejiang’s decline was smaller than the previous month, but still reached 9.9%; Shandong fell by 18.6%, the largest single-month decline in the year; Fujian fell by 17.2%, the fifth consecutive month of 2 Bits dropped. The declines in Jiangsu and Guangdong were slightly slower, both less than 5%. Exports from some central and western regions have grown rapidly. Xinjiang’s exports have increased by more than 10% for three consecutive months. Hunan’s export growth has expanded month by month since July, with an increase of 174% in October. Sichuan’s growth rate more than doubled in September and October.
From January to October, only 8 provinces and cities across the country achieved export growth, most of which were in the central and western regions. Only Shandong, a major eastern province, increased by 0.3%, while Zhejiang and Fujian fell by 6.4% and 7.3% respectively, exceeding the average decline.
6. Clothing imports slowed down and commodity prices rebounded.
Textile imports fell by 8.3% in October, while clothing increased by 4.4%. Yarn in textiles decreased by 12.4%, of which cotton yarn import volume and value decreased by 19.3% and 15% respectively. Both the volume and growth of clothing imports slowed down. The total import of needle and woven clothing was 41.98 million pieces (sets), the lowest during the year, a year-on-year decrease of 0.7%. The unit price of bulk commodity imports rebounded, with yarn rising by 5% and needle-woven garments rising by 2.7%.
Cumulative imports of textiles from January to October fell by 15.1%, while clothing increased by 1.6%. In textiles, yarn, fabrics and finished products decreased by 21.8%, 11.5% and 4.9% respectively. The total import volume of medium-needle woven clothing increased by 6.3%, and the import unit price decreased by 3.7%.
7. Cotton import volume fell and prices rose, and the price gap between domestic and foreign cotton expanded.
Cotton imports continued to fall in October, with only 41,000 tons imported that month, a year-on-year decrease of 1.8%. The import unit price continued to rise, with a year-on-year increase of 6.3%. From January to October, the cumulative import volume was 698,000 tons, a decrease of 42%, and the import unit price fell by 1.8%.
New cotton harvest has entered its peak period in October, and more cotton companies have entered the market to acquire cotton. However, the acquisition progress is slower than last year. The purchase price of seed cotton rose at the beginning of the month and stabilized after the middle of the year. The trend of the textile market is not as good as expected. At the same time, the price of new cotton remains high. The cotton used by textile companies continues to be mainly based on the reserve cotton stocks from the early auctions. After the end of the reserve cotton release, the market’s focus turned to new cotton prices. As the seed cotton purchase market opened higher and moved higher, the spot price of new cotton also rose. China’s cotton price index (CCIndex3128B) ended the month at 14,866 yuan/ton, an increase of 492 yuan/ton or 3.3% from the end of last month. The average monthly transaction price was 15,315 yuan/ton, an increase of 1,057 yuan/ton month-on-month, and a year-on-year increase of 2,274 yuan/ton.
In the international cotton market, affected by the launch of new cotton, fluctuations in the US dollar index and the UASA report, futures and spot cotton prices showed a volatile trend, and the overall monthly average price fluctuated little. However, due to the rise in domestic prices, the price difference between domestic and foreign cotton has expanded significantly. China’s imported cotton price index FCIndexM has a monthly average of 79.32 cents/pound, a slight increase of 0.06 cents from the previous month. The 1% tariff discount is RMB 13,520/ton, lower than the Chinese cotton price index of 1,843 yuan/ton in the same period, and the price difference has expanded by 959 yuan from the previous month. Yuan. The sliding tax discount is RMB 15,016/ton, which is lower than the Chinese cotton price index of RMB 347/ton in the same period (higher than the Chinese cotton price index of RMB 668 last month).
