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Data from the China Textile Import and Export Chamber of Commerce show that in the fourth quarter, China's textile and garment exports gradually stabilized, and the proportion of intermediate exports in textile and garment exports continued to rise, providing new momentum for international supply chain cooperation and substantive expansion of exports to traditional markets.
From the perspective of intermediate exports, under the low base effect, the number of yarn fabric exports increased for four consecutive months, and the price decline in the fourth quarter narrowed compared with the third quarter as a whole. Among them, the export of yarn fabrics to ASEAN has rebounded, up 3.7% year-on-year, and has turned positive for the first time since April this year.
From the policy level, the Central Economic Work Conference emphasized expanding high-level opening up, accelerating the cultivation of new growth drivers for foreign trade, effectively opening up the blockage of foreign nationals coming to China for business and tourism, and focusing on the implementation of the eight actions to support high-quality joint construction of the "Belt and Road". The "going deep and going solid" of relevant policies will continue to promote China's textile and garment exports.
From the perspective of the international environment, the US economic recovery is better than expected, and the continued digestion of buyers' inventories may bring good news for the export of intermediate products such as yarn and fabric in the next stage.
In November, imports and exports changed from negative to positive
From January to November 2023, the national fabric import and export volume was 61.63 billion US dollars, down 9.5% year-on-year. Among them, the export value was 59.05 billion US dollars, down 9.3%; Imports were $2.57 billion, down 15 percent from a year earlier.
In November 2023, the total import and export of fabrics in China was 5.65 billion US dollars, an increase of 0.5%. Among them, the export was 5.38 billion US dollars, up 0.4% year-on-year; Imports reached $270 million, up 1.5% year on year, and both imports and exports increased for the first time since 2023.
China's fabric trade is mainly exported, accounting for nearly 90%. In recent years, with the continuous enhancement of China's independent research and development capability of fabrics, some high-end fabrics monopolized by Europe, America and Japan in the past have achieved independent production, and the import of fabrics in China has declined year by year.
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