Textile and apparel industry exports resume growth, benefiting from stronger US dollar
According to China News Service,2017China’s exports of fabrics and workwear resumed growth in the first month of the year. China Chamber of Commerce for Import and Export of Fabric Products10revealed that in RMB,2017Year1Month China’s exports of fabric workwear1656.8100 million, a year-on-year increase10.2%, of which fabric exports664.1100 million, a year-on-year growth11.2%;Workwear exports992.7100 million, a year-on-year increase9.5%.
Data show that from January to December 2016, China’s trade volume of fabric workwear fell by 6.1% year-on-year, of which exports fell by 5.9% year-on-year. Especially in December, China’s fabric workwear trade volume fell by 12.1% year-on-year, of which exports fell by 12.9% year-on-year. China’s fabric workwear exports continued to decline in 2016 after falling by 4.9% in 2015. However, China’s exports of fabric workwear resumed growth in January 2017.
The continued strength of the US dollar is one of the important reasons for the recovery in export data of fabric workwear. Since the second half of 2016, the exchange rate of RMB against the US dollar has depreciated, and the central parity rate of RMB against the US dollar once fell to 6.93. This has brought about an improvement in the export situation of my country’s fabric industry and is expected to bring more international orders to fabric workwear companies.
In addition, the continued progress of domestic fabric brands has also promoted the resumption of export growth. In fact, as early as 2001, after China joined the “WTO”, my country’s fabric industry has been exploring progress, especially the progress of the workwear industry. Many domestic workwear brands are beginning to implement strategies, such as “Shanshan”, “Youngor”, “Luwang”, “Ordos” and other brands have begun to move towards the international market, promoting brand development.
In recent years, in addition to the progress promoted by the brands themselves, many brands have continued to make technological innovations in fabric production in order to seek international orders, greatly improving my country’s fabric production technology so that their products can meet standards. This also provides the basis for my country’s fabric workwear industry to recover from negative export growth.
In addition, on January 20, the Ministry of Industry and Information Technology, the National Development and Reform Commission and others issued the “Guiding Opinions on the Development of the Industrial Fabrics Industry during the 13th Five-Year Plan”. The launch of the “Guiding Opinions” will promote the transformation of my country’s fabric industry into emerging models. Fabric companies should adapt to mass consumption concepts and structural changes, grasp the consumption trends and new consumer groups in the new era, and adjust corporate strategic deployment. Driven by policies and the market, my country’s fabric workwear industry is expected to develop rapidly, and related companies are expected to benefit quickly.
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