Textile And Clothing Are Affected By The Depreciation Of RMB, And Export Volume Is Rising Slightly.

In recent times, the depreciation of the renminbi has occurred. Under such circumstances, the export volume of domestic textile and clothing has shown a rising trend, but the rate of increase is not large.

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In recent years, the competitiveness of China's textile and garment industry in the world's main markets has been weakening, and its share in major markets in Europe, America and Japan has been declining.

But in the process of RMB devaluation, the performance of mainland textile and garment export enterprises began to recover and increase slightly.

The industry pointed out that the depreciation rate of the RMB against the US dollar is 1%, the sales profit margin of the textile and garment industry will increase by 2% to 6%, and the size of the mainland's textile and garment industry ranks first in the world. The exchange rate fluctuation will have a huge impact on the industry.

The sudden sharp depreciation of the RMB has a positive effect on the performance of the textile and apparel industry with an average profit margin of less than 10%.

Statistics show that of the 56 textile and apparel listed companies with export business, 33 companies have increased gross margins in foreign businesses and 23 have declined in gross margins in foreign businesses.

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Listed companies said that the devaluation of the renminbi sometimes does not mean that the company's performance is improving. Some customers will ask for a reduction in the price of clothing while the renminbi depreciated.

In the first half of 2016, the RMB depreciated again, and most of the export oriented textile and garment companies realized profits.

Data show that in the first half of 2016, most of the listed companies based on textile and clothing export expected to grow in different ranges.

According to the latest data, from 2016 to June, the mainland's textile and apparel exports totaled 802 billion 870 million yuan, up 2.1% from the same period in 2015, of which 337 billion 970 million yuan for textile exports, 4.2% for growth, 464 billion 900 million yuan for clothing exports, and 0.6% for growth. 1.

The textiles import and Export Chamber of Commerce revealed that due to the fact that the major economies in the world have not yet recovered significantly, the demand for the major markets is lacking in growth momentum. The second quarter of 2016, although the mainland's textile and clothing exports continued to grow, with the increase in the same period in 2015, the growth rate gradually narrowed.