Textile And Garment Exports Decreased By 10.9% In October, A New Low For Six Months.

Data show that in the first three quarters of this year, China's total export volume to Japan was only $16 billion 100 million, down 11.6%, of which textile and clothing fell by 9.8% and 12% respectively.

The industrial pfer caused by the rising cost of domestic manufacturing industry is also the main reason for the decline of China's textile and clothing exports.

It is a traditional labor intensive export industry in China, which has been a large proportion of China's export trade.

However, this year, affected by the global economic slowdown, exchange rate fluctuations and high domestic manufacturing costs, China's textile and garment exports have been declining continuously, and the situation is not optimistic.

According to the latest data released by the General Administration of customs, China's textile and clothing exports hit a new low in the past six months in October. The total export volume of textile and clothing decreased further in 1-10 months, and the decline was widened.

According to the China Textile Import and Export Chamber of Commerce, from the current situation, the negative growth of export of textiles and clothing is a foregone conclusion.

According to the General Administration of customs data, textile and clothing exports in October were 23 billion 660 million US dollars, down 10.9% from the same period last year. Compared with the 5.7% decline in September, the export decline in October expanded further.

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(including textile yarns, fabrics and products) exported 9 billion 210 million US dollars, down 5.5%; garments (including garments and accessories) exported to US $14 billion 450 million, down 13.9%.

1-10 months, textile and apparel exports totaled 234 billion 980 million US dollars, down 5.4%, of which 91 billion 60 million of textile exports were down 1.9%, and clothing exports 143 billion 920 million US dollars, down 7.5%.

According to the analysis of China Textile Import and Export Chamber of Commerce, the reason for the further decline of China's textile and garment exports in October was due to the poor economic environment at home and abroad.

Abroad, influenced by exchange rate fluctuations and industrial pfer, the import demand of China's main export markets has not recovered except for the US, and the demand for emerging markets has also declined.

Domestic issues, such as financing difficulties and so on, are still not effectively solved by Chinese textile and garment export enterprises, which have affected the export polarity of enterprises.

The United States, the European Union, ASEAN and Japan are the four major markets for China's textile and clothing exports. But in the four major markets, other markets are declining, except for the US's demand for steady economic recovery and strong retail sales.

According to the latest market segmentation data of textile and apparel industry, China's total exports to the United States in the first three quarters were 36 billion 400 million US dollars, a cumulative increase of 8.3%. The United States has also become the only growth market in China's main export markets, and has 1.3 percentage points positive to China's overall exports of textiles and clothing.

However, the positive pull of the 1.3 percentage points in the US market is far from offset the decline in other markets.

Outside the US, the other three big markets, such as the European Union, ASEAN and Japan, are all showing signs of weakness, which is affected by the depreciation of the Japanese yen and the promotion of Japan's domestic consumption tax.

Data show that in the first three quarters of this year, China's total export volume to Japan was only $16 billion 100 million, down 11.6%, of which textile and clothing fell by 9.8% and 12% respectively.

In addition, in emerging markets, China's exports to BRIC countries have all declined. Among them, influenced by the rouble exchange rate and Russia's economic sanctions, China's exports to Russia fell sharply in the first three quarters, reaching a decline of 35.6%.

However, in Africa, the Middle East and other markets, China's textile and clothing exports have increased, for example, the growth in exports to Africa has increased by 6.8%, and the number of countries along the "one belt and one road" along Philippines has increased by more than 10%.

In addition to the global market downturn,

The industrial pfer is also the main reason for the decline of China's textile and clothing exports, said Ma Ying, director of the China Textiles Import and Export Chamber's external liaison department.

In recent years, as China's demographic dividend has weakened, manufacturing labor costs have been rising.

Data show that between 2010 and 2014, the wage growth rate of migrant workers was 19.3%, 21.2%, 11.8%, 13.9% and 9.8%, respectively, from 4 to 2014.

If we consider the cost of labor, electricity and natural gas comprehensively, if the manufacturing cost of the US in 2014 is 100, then the cost of manufacturing industry in China will reach 96, approaching the level of the United States, far higher than that of India, Indonesia and other Southeast Asian and Southeast Asian countries.

In an interview with reporters, Ma Ying said that with the increase in manufacturing costs, foreign orders began to shift to cheaper places in Southeast Asia and South Asia.

She added that although the recent depreciation of the renminbi against the US dollar has stimulated exports to some extent, it has limited stimulus.

While the RMB depreciated, other countries' currencies also depreciated. On the basis of the original manufacturing cost being 20% to 30% lower than that of China, some countries implemented tariff free policies to the United States, the European Union and other countries, which further widened the advantages of China.

Therefore, from a deeper perspective, the decline of China's textile and apparel exports this year has something to do with the high cost of domestic manufacturing and the promotion of comparative advantages of other economies.

In the future, without the obvious stimulation factors, China's textile and clothing export situation is still not optimistic, Ma Ying thinks.

Therefore, in order to stimulate exports, the government should stabilize the exchange rate and maintain the competitiveness of the renminbi in other countries' currencies.

At the same time, the government should stimulate exports in the import and export links, especially in the tax rebate link.

At the same time, enterprises need to start thinking about pformation and upgrading, upgrading to technological content, productivity and higher direction, and enhance their competitiveness.