RMB Depreciation To Ease Textile And Garment Export Pressure
In December, the export volume of textiles and clothing dropped sharply in the same period last year. According to customs statistics, in December 2016, China's textile and clothing exports amounted to 23 billion 433 million US dollars, a 8.37% increase over the same period, down 13.05% from the same period last year. Among them, exports of textiles (including textile yarns, fabrics and articles) amounted to US $9 billion 156 million, down 6.67% from the same period last year. clothing (including clothing and accessories) exports amounted to US $14 billion 277 million, down 16.70% compared to the same period last year. In 2016 1-12, the total export volume of textiles and clothing in China was 262 billion 444 million US dollars, down 7.58% from the same period last year. The total export volume of textiles was 104 billion 987 million US dollars, down 4.1% from the same period last year. The total export volume of garments was 157 billion 457 million US dollars, down 9.6% from the same period last year.
From the RMB value, in January 2016 -12 months, China's textile and clothing exports amounted to 17310 billion yuan, of which 692 billion 100 million yuan in textile exports, an increase of 1.9% over the same period last year, and clothing exports amounted to 10389 billion yuan, representing a decrease of 3.9% over the same period last year. From the psychological level, with the rise of last year's wave, this year, when the cotton mill has sold most of the cotton, the intention to reduce sales is not big now. Sales pressure after holidays should be mainly focused on traders.
The export volume of the US dollar has been greatly reduced, but the export volume of the renminbi has been reduced by a small margin. textile Exports can even increase, so we can speculate that the sharp decline of US dollar is mainly due to the depreciation of the RMB, and the actual export volume of textile and clothing may not be bad. The practical role of RMB devaluation is helpful to ease the pressure of export decline. In December, the import volume of cotton yarn in our country increased greatly, and the increase in ring and year-on-year ratio was mainly due to the fact that Chinese textile enterprises began to use new cotton in November and December, while the price of new cotton was much higher than that of reserve cotton, and the difference between domestic and foreign cotton prices was relatively large in November and December. Therefore, the cost of national cotton yarn was much higher than that of imported cotton yarn, so the imported cotton yarn had strong return to the domestic market.
But from all year round Cotton yarn In terms of import volume, in 2016, as China threw cotton reserves, the cotton market in the early days was pessimistic, and the price of cotton reserves was much lower than that of new cotton, and the difference between cotton prices inside and outside was greatly reduced. During the period of throwing and storing, the disadvantages of cotton yarn cost in China decreased, so in 2016, the import of cotton yarn in China was much less than that in 2015. According to customs statistics, the import of cotton yarn in China in December was about 201 thousand and 700 tons, an increase of 8.29% over the same period last year, an increase of 12.79% over the month, and a total of 1 million 972 thousand and 300 tons of imported cotton yarn in 2016 1-12, a decrease of 15.9% over the same period last year, a decrease of 370 thousand tons over last year's import volume and a conversion of about 400 thousand tons of cotton to cotton consumption.
In 2017, from the current situation, the price of cotton in India was difficult to improve due to the delay in listing, resulting in its price being kept high. In contrast, the United States cotton seemed to have a high cost performance, a large increase in the volume of contracts and a rising price. Therefore, the cost of using cotton in India, Pakistan and Vietnam increased. The cotton market in China is still protected by cotton throwing and storage in March this year. It is expected that the cotton trade and the foreign market will gradually shrink. Therefore, we expect that the import of cotton yarn will continue to decrease this year, and the import volume of India cotton yarn and Pakistan cotton yarn will be reduced, and Vietnamese cotton yarn imports will be relatively stable.
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