Review Textile Profit And Cotton Spinning PMI In 2022
In 2022, cotton led the decline most of the time, and textile instant profits were better repaired. However, if the enterprise is used to hoarding more raw materials, or the inventory of finished products cannot be quickly realized, the enterprise will still suffer a large loss due to the overall downward trend of cotton yarn prices. Therefore, it has become the consensus of most enterprises to purchase raw materials as soon as they are used and strive to eliminate finished product inventory as soon as possible.
This year's epidemic interference still exists, especially in the fourth quarter of Guangdong, which led to the closure of the Zhongda market for several months, causing many adverse effects on textile and clothing enterprises. Another indicator, cotton spinning PMI, is also explaining the plight of the downstream.
From July to November 2022, the PMI of cotton spinning industry will be 31.65%, 43.45%, 46.10%, 38.69% and 33.44% respectively, which has failed to return to the 50 prosperity and decline line.
As the world has been affected by inflation for a long time, its consumption capacity has decreased. Superimposed by the depreciation of RMB against the US dollar, the export will be higher before and lower after 2022, and the customs data in the second half of the year is not satisfactory.
According to the latest data from the General Administration of Customs, in November 2022, China's export of textiles and clothing reached US $24.387 billion, down 14.91% year on year and 2.55% month on month; Among them, textile exports reached US $11.267 billion, down 14.93% year on year and 0.90% month on month, while clothing exports reached US $13.12 billion, down 14.88% year on year and 3.92% month on month.
From January to November 2022, China's textile and clothing exports totaled US $297.63 billion, a year-on-year increase of 4.47%; Among them, textile exports reached US $136.926 billion, up 4.70% year on year, and clothing exports reached US $160.704 billion, up 4.30% year on year.
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