Jiangsu Port Textile And Garment Exports Continued To Fall

According to the statistics of Nanjing customs, 1~10 port exported Jiangsu textile and apparel 1 billion 880 million US dollars, an increase of 20.9% over the same period last year.

Exports fell for 3 consecutive months.

Since August, the export of textile and clothing at Jiangsu port has been decreasing month by month. In October, it exported only 180 million US dollars of textile and clothing, an increase of 12.9% over the same period last year, a decrease of 10.4% compared with the same period, and the export volume dropped for 3 consecutive months.

Textile yarns, fabrics and products replace clothing and accessories to become the main driving force for export.

At 1~10 month, the export of textile yarns, fabrics and products at Jiangsu port increased by US $1 billion 140 million, an increase of 28.7%, an increase of 26.3 percentage points, a contribution of 78.7% over the same period of Jiangsu port's overall export growth of textile and clothing, and a 730 million increase in export clothing and accessories at Jiangsu port, an increase of 7.5 percentage points.

General trade exports accounted for 6.

At 1~10 month, Jiangsu port exported 1 billion 130 million US dollars of textile and clothing in general trade mode, an increase of 21.4%, accounting for 60.2% of the total value of textile and garment exports at Jiangsu port. During the same period, the export of textiles and garments by processing trade reached US $720 million, an increase of 21%, accounting for 38.3%.

Mainly exported to the European Union, the United States and Japan.

At 1~10 month, Jiangsu port exported 370 million, 320 million US dollars and 310 million US dollars to the European Union, the United States and Japan respectively, which increased by 17.4%, 5.3% and 7.1% respectively. Three of them accounted for 53.2% of the total export volume of textile and clothing at Jiangsu port.

Exports of foreign-funded enterprises occupy half of the total, and private enterprises' export growth is obvious.

At 1~10 month, foreign-invested enterprises in Jiangsu port exported 990 million US dollars of textile and clothing, an increase of 23.1%, accounting for 52.7% of the total value of textile and garment exports at Jiangsu port. In the same period, the state-owned enterprises and private enterprises at Jiangsu port exported 470 million and 380 million US dollars of textile and clothing respectively, representing an increase of 15.3% and 25.3% respectively.

Analysts believe that the recent decline in textile and clothing export at Jiangsu port is due to the sharp weakening of international market demand.

With the spread of the world financial crisis, the textile and apparel market in Europe and the United States continued to shrink. According to the latest data from relevant market research companies, textile and garment production, new orders and procurement in the European Union fell to the lowest level in 10 years.

Meanwhile, retail sales in the US dropped 1.2% in September, the biggest drop since August 2005.

The sharp weakening of international market demand has led to a sharp fall in China's textile and garment exports.

Textile and clothing exports are squeezed by emerging markets such as India and Vietnam.

Influenced by the accelerated appreciation of RMB and the substantial increase in labor costs, China's textile and garment export competitiveness has weakened.

With the gradual formation of the scale effect of textile and clothing in India and Vietnam, the obvious labor cost advantage has posed a great challenge to the export of China's textile products.

China's textile exports to the US decreased by 3.1% in 1~7 months, but India's exports to the United States increased by 0.9% during the same period, while Vietnam's textile and clothing exports reached a record $5 billion 100 million, an increase of 20.5% over the same period last year.

To ensure stable growth of textile and clothing exports, China has raised the export rebate rate of some textile and garment products from 11% to 13% since August 1st.

However, since August, Jiangsu textile and garment exports continued to fall, the effect of export tax rebate rate increase is not obvious.

Since November 1st, the state has again raised the export tax rebate rate of some textiles and clothing by 1 percentage points to 14%. However, the impact of the world economic downturn caused by the US financial turmoil has yet to be observed.

It is noteworthy that, since the beginning of this year, China's textile industry has continued to deteriorate, and the employment situation in the textile industry is not optimistic.

In 1~8 months, the deficit of China's textile industry above Designated Size Enterprises expanded from 19.1% in the same period last year to 21.3%, and the deficit of loss making enterprises increased by 66% over the same period last year, 52.1 percentage points higher than that of 13.9% in the same period last year.

At the same time, the difficulty of enterprise loans is increasing. Many enterprises are facing the risk of capital chain breaking. Some enterprises are in a state of shutdown and semi shutdown.

According to the China Textile Industry Association estimates, with more and more textile enterprises below the scale down or shutting down, about 3 million of the country's employees will be affected.