Main Economic Indicators Of Industrial Textile Industry In The First Eight Months

In August 2024, the global manufacturing PMI will be lower than 50% for five consecutive months, and the global economy will continue to operate weakly. Geopolitical conflicts, high interest rates and insufficient policies will restrict the global economic recovery; The domestic economic situation is generally stable, but the performance of both supply and demand sides is weak, the growth momentum is slightly insufficient, and the policy effect needs to be further revealed. From January to August 2024, the industrial added value of China's industrial textile industry will keep increasing, and the industrial production and export will continue to improve.

　　 In terms of production, According to the data of the National Bureau of Statistics, the nonwoven production and cord fabric production of enterprises above designated size increased by 9.7% and 9.9% respectively from January to August, slightly slower than that in the middle of the year.

　　 In terms of economic benefits, According to the data of the National Bureau of Statistics, from January to August, the operating income and total profit of enterprises above designated size in the industrial textile industry increased by 6.8% and 18.1% respectively year on year, and the operating profit margin was 3.8%, an increase of 0.4 percentage points year on year.

Growth rate of main economic indicators of industrial textile industry from January to August 2024

Data source: National Bureau of Statistics, China Industrial Textile Industry Association

In terms of fields, from January to August, the operating income and total profit of enterprises above designated size in the nonwoven industry increased by 4% and 23.6% respectively year on year, and the operating profit margin was 2.6%, up 0.4 percentage points year on year; The operating income and total profit of enterprises above the designated size in the rope, cable and cable industry increased by 15% and 56.5% respectively year on year. The profit growth rate exceeded 50% for three consecutive months. The operating profit margin was 3.2%, up 0.8 percentage points year on year; The operating income and total profit of enterprises above designated size in the textile belt and cord fabric industry increased by 11.4% and 4.4% respectively year on year, and the operating profit margin was 2.9%, down 0.2 percentage points year on year; The operating revenue of enterprises above designated size in the awning and canvas industry increased by 1.2% year on year, the total profit decreased by 4.5% year on year, and the operating profit margin was 5%, down 0.3 percentage points year on year; The operating income and total profit of enterprises above designated size in other industrial textile industries where filter and geotextile are located increased by 11.1% and 25.8% respectively year on year, and the operating profit margin of 6.2% was the highest level in the industry, with a year-on-year increase of 0.7 percentage points.

　　 In terms of international trade, According to Chinese customs data (customs 8-digit HS code statistics), the export volume of industrial textiles industry from January to August 2024 was 27.32 billion US dollars, up 4.3% year on year; The import volume was 3.33 billion US dollars, down 4.6% year on year.

In terms of products, industrial coated fabrics and felt/tents were the top two export products in the industry, with the export volume from January to August reaching US $3.38 billion and US $2.84 billion respectively, up 11.2% and 1.7% year on year respectively; The overseas market still has a strong demand for Chinese nonwoven coiled materials. The export volume of nonwoven fabrics reached 987000 tons, with an export volume of 2.67 billion US dollars, up 16.2% and 5.5% year on year respectively; The export volume of disposable sanitary products (diapers, sanitary napkins, etc.) was 2.26 billion US dollars, up 3.2% year on year; Among traditional products, the export volume of industrial fiberglass products and canvas increased by 6.5% and 4.8% respectively year on year, the export volume of cord (cable) and belt textiles increased by 0.4% slightly year on year, and the export volume of packaging textiles and leather base cloth decreased by 3% and 4.3% respectively year on year; The export market of wiping products continued to improve. The export volume of wiping cloth (excluding wet wipes) and wet wipes reached US $1.14 billion and US $0.6 billion respectively, up 23.6% and 31.8% year on year respectively.

Exports of industrial textiles and major products from January to August 2024

Data source: China Customs, China Industrial Textiles Industry Association

(Source: China Industrial Textile Industry Association)