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The present situation of China's textile industry

The present situation of China's textile industry
Issue Time:2017-11-23

The present situation of China's textile industry

          According to statistics from the Ministry of Industry and Information Technology, the processing volume of textile fiber in China reached 54.2 million tons in 2016, an increase of 2.3% over the same period of previous year, accounting for more than 50% of the total fiber processing volume in the world. According to the " The 13th Five-Year Development Plan predicts that in the next four years, China's fiber processing volume will continue to grow at a rate of 10-200 million tons per year and reach 60 million tons by 2020, an increase of 3.5%. China is already the largest textile producer in the world. At the same time, China is also the largest textile exporter in the world. According to the China Textile Industry Association, since 2010, China's textile and garment exports accounted for a steady increase in the proportion of global textile and apparel exports but the growth rate slowed down gradually. In 2016, the global textile and apparel exports accounted for 38% of the total. However, according to the statistics of the Customs, in the whole year of 2015, China exported 291.1 billion U.S. dollars of textile and apparel, a year-on-year decrease of 4.8%. China's textile exports 115.26 billion US dollars, down 2.3%, garment exports 175.89 billion US dollars, down 6.4%. This is also the first full year negative export growth of China's textile and apparel exports since the financial crisis. In 2016, the export situation still did not improve. Also from the customs data, the total trade volume of China's textile and apparel amounted to 290.6 billion U.S. dollars in 2016, down 6.1% from the same period of last year. Among them, exports reached 272.25 billion U.S. dollars, down 5.9% year-on-year. This is the first time that China's textile exports have been decreasing for the second consecutive year in the past 20 years, and the decline has been magnified year by year. In retail sales, the retail sales of clothing, shoes, hats and knitwear above the designated size increased steadily. In 2016, the retail sales reached 1,443.3 billion yuan, accounting for 9.95% of the retail sales of consumer goods above the designated size.


          In 2017, with the withdrawal of the TPP from the United States, the textile industry in China started to pick up. The growth rate of industrial added value in the textile industry gradually rose month by month. The value added of industrial enterprises in January-June was up 5.3% from the same period of last year. The textile industry was above 5 million yuan Investment projects completed a total investment of 6030.14 billion yuan, an increase of 9.11%. From January to May, the main business income of 29455.7 billion yuan, an increase of 9.4%; total profit of 149.5 billion yuan, an increase of 10.6%. Textile exports showed a rebound. From January to June 2017, China exported a total of 124.05 billion U.S. dollars of textile and apparel, an increase of 2.1% over the same period of last year. The domestic sales growth also accelerated. From January to June, the retail sales of clothing, shoes, hats and knitwear above the national quota increased by 7.3% from the same period of last year, up 0.3% over the same period of last year.