In 2017, the growth rate of national trade in goods reached a new high in six years, with a total import and export value of US$4,104.48 billion, a year-on-year increase of 11.4%. Of this total, exports were 2,263.49 billion US dollars, an increase of 7.9%; imports were 1,840.99 billion US dollars, an increase of 15.9%, and the accumulated trade surplus was 422.51 billion US dollars. In December 2017, the total import and export value of national goods trade was 408.89 billion US dollars, an increase of 8%. Of this total, exports were US$231.79 billion, up 10.9%; imports were US$177.10 billion, up 4.5%, and the trade surplus for the month was US$54.69 billion.
In 2017, the cumulative trade volume of textiles and apparels reached US$293.15 billion, an increase of 1.2%, of which exports were US$268.6 billion, up 0.8%, imports were US$24.55 billion, up 5.3%, and the accumulated trade surplus was US$244.05 billion, up 0.4%. In December 2017, the textile and apparel trade volume was US$26.18 billion, up 2.2%, of which exports were US$24.02 billion, up 2.5%, and imports were US$2.16 billion, down 1.6%. The trade surplus for the month was US$21.86 billion, up 2.9%.
In 2017, the import and export of textiles and garments showed the following characteristics:
First, the market is stable and the export growth is expected to increase throughout the year.
In the wake of the recovery of global economic recovery, the continued improvement of the domestic economy, and the low base in the same period last year, China’s textile and apparel foreign trade has always been “stable†in 2017, especially in the second half of the year, exports have remained stable for many months. With a small increase, the growth rate in the fourth quarter rose to 3.7%, making the year's exports, after two consecutive years of decline, finally set aside the cloud and seeing growth again.
Imports, driven by the increase in the number and price of twin engines, reversed for three consecutive years and achieved rapid growth.
Second, the trade structure has become more reasonable and the concentration of foreign trade has been further improved.
From the perspective of trade patterns and export companies, there are three further optimization features in 2017:
The trade structure is more reasonable. The general trade exports reflecting the independent development capability of foreign trade accounted for 76.4%, ranking 3/4. Exports of “other trades†dominated by market purchases were further highlighted, with the proportion rising to 6.9%. General trade exports fell slightly by 0.4%, and other trade exports increased by 16.6%, driving overall exports to grow.
The composition of the enterprise is further optimized. The cumulative export of private enterprises reached 187.55 billion US dollars, accounting for 70% of the total, and the export volume increased by 3%. It has become the only main driving force for the overall export growth, and the endogenous power of foreign trade development is more robust. The export of state-owned enterprises and foreign-funded enterprises decreased by 3.6% and 4.4% respectively.
The concentration of foreign trade has further increased. It is a super-large and large-scale enterprise (export value of more than 50 million US dollars), which accounts for only 0.7% of export entrepreneurs, and contributes 30% of export value. The trend of Hengda Hengqiang is gradually taking shape.
The outstanding comprehensive foreign trade service platform in the past year was greatly reduced in 2017, and the export of “Yidatong†enterprises was rapidly reduced. Among them, the “Yidatong†rankings in Shandong and Fujian fell sharply. Most of the top 10 export enterprises have returned to textile and apparel professional production or foreign trade companies.
3. The key markets have shown a stable and positive trend, and exports to the United States, ASEAN and Japan have resumed growth.
EU - The decline in exports to the EU has narrowed, and the impact of Brexit is expected to outweigh the disadvantages.
In 2017, among the four major export markets for textiles and clothing, exports to the EU only declined. The cumulative export volume was US$48.86 billion, down 1.1%, and the decline was significantly smaller than last year. Among them, the main reason is that clothing fell by 2.7%, and textiles achieved a growth of 3.9%. The total export volume of large-scale commodity needle woven garments increased slightly by 0.5%, and the export unit price fell by 3.8%.
Brexit is a major EU event in recent years. In 2017, Brexit entered the stage of substantive talks, and the specific time and transition period of Brexit have been basically determined. The United Kingdom is an important export market for textiles and garments in China. It ranks fifth in terms of individual countries and is the largest market country among the 28 EU countries. In 2017, China’s exports to the UK reached US$10.33 billion, accounting for 4% of total global exports and 21% of exports to the EU.
In the next two years, as the negotiation process progresses, the UK will gradually divest the original EU institutional arrangements and formulate and improve its policies on financial taxation and trade relief. Brexit has advantages and disadvantages for China. However, since the UK has always advocated a global free trade system, its general policy on foreign trade is still expected to be based on openness.
According to EU customs statistics, from January to October, the EU imported 109.33 billion US dollars of textiles and clothing from the world, an increase of 2.8%, and imports from China reached 37.42 billion US dollars, an increase of 1.3%. Imports from ASEAN and Bangladesh increased by 9.9% and 3.4% respectively.
US - Exports to the United States are driven by textiles to resume growth.
Affected by the local economic downturn, China’s exports to the United States in 2016 have fallen for the first time in 20 years. In 2017, the US economy recovered steadily, and various fundamental indicators continued to improve, and exports to the United States resumed growth again. The total export volume for the year was 45.39 billion US dollars, an increase of 1%. Form a positive pull on the overall export.
Textile exports were US$ 12.39 billion, up 6%, and apparel exports were US$ 33 billion, down 0.8%. Among them, the total export volume of large-sized commodity needle woven garments increased by 2.3%, and the export unit price decreased by 4%. Exports of textile finished goods increased by 6.9%.
According to US Customs statistics, from January to November, the United States imported textiles and clothing from the world by 108.43 billion US dollars, an increase of 0.9%, of which imports from China were 39.42 billion US dollars, a slight decrease of 0.7%, and imports from ASEAN, India and Mexico increased by 2.9% and 3.9% respectively. 6.2%.
ASEAN - is the main force driving the overall export growth, and the export price of clothing has increased.
As the third largest market for textile and garment exports in China, ASEAN has become the main force for the growth of overall exports in 2017. The cumulative export volume is US$34.75 billion, an increase of 4.5%. It is the fastest growing in the four major markets and 0.6 percentage points for the overall export growth. Pull forward. Among them, textile exports were US$ 25.69 billion, up 6.7%, and apparel exports were US$ 9.06 billion, down 1.2%. The export of large-scale commodity fabrics increased by 7.1%, the total export volume of needle-woven garments decreased by 5.9%, and the unit price increased by 2.5%, which is the only key market to achieve the increase in clothing export prices.
Among the 10 ASEAN countries, Vietnam still maintains its largest market position. In 2017, China’s exports to Vietnam resumed growth, and the annual export volume increased by 8.6%. It is worth mentioning that Vietnam has surpassed India to become the largest source of yarn imports in China since 2016. The proportion of yarn imports from Vietnam has increased rapidly, reaching 28% in 2017.
Japan - The export to Japan has reversed the continuous decline and the market has gradually stabilized.
Japan’s exports have reversed the unfavorable situation of four consecutive years of decline. In 2017, exports were US$20.32 billion, achieving a slight growth of 0.05%, and the Japanese market gradually stabilized.
The export of Japanese textiles was 4.36 billion US dollars, an increase of 3%, and the export of clothing was 15.97 billion US dollars, a decrease of 0.7%. The total output of large-scale commodity needle woven garments increased by 2.6%, and the unit price fell by 3.3%. Japan is still the main export market for China's medium and high-end products, and the average price of clothing exports is 20-30% higher than that of Europe and America.
According to Japanese customs statistics, from January to November, Japan imported 33.64 billion US dollars of textiles and clothing, an increase of 0.3%, of which imports from China were 20.47 billion US dollars, down 1.3%, and imports from ASEAN increased by 5.2%.
Emerging markets have resumed growth in large areas, and the “Belt and Road Initiative†has achieved remarkable results.
At the same time as the economic recovery of developed economies, the markets of developing countries have gradually recovered. In 2017, China’s exports to Africa, Latin America and South Asia all achieved growth. Among them, South Africa grew by 6.3%, Brazil by 33.3%, and India by 3.7%. With the in-depth promotion of the “Belt and Road Initiativeâ€, the results gradually appeared. China’s exports to 64 countries along the route totaled 91.47 billion US dollars, an increase of 2.9%, and the proportion of exports rose to 34.1%.
2017 is the 5th anniversary of China-Central and Eastern Europe's "16+1" cooperation. In the past five years, the textile and apparel trade between China and the 16 countries of Central and Eastern Europe has gradually expanded. China's exports have increased by 17.8% and imports have increased by 27.1%. These 16 countries are all along the “Belt and Road†countries, and there is still much room for development in the future.
The share of Chinese products in key export markets continued to decline, but the decline slowed down.
From the data point of view, China’s share of the Japanese market has continued to decline since the beginning of this year, but the rate of industrial transfer has slowed significantly compared with previous years. From January to November, the share of Chinese products in the Japanese market was 60.9%, down 0.9 percentage points from the same period of last year, and the rate of decline was obviously slowing down. Enterprises also have the same feelings. According to the main enterprises exporting to Japan, Japan is now further improving relative to other markets, especially the sales of medium and high-end products in Japan can achieve steady growth. At the same time, the rate of decline in the EU market share has also slowed down. The share from January to October was 34.2%, down only 0.4 percentage points from the same period last year. Relatively speaking, China's products have the smallest change in market share in the United States. In the six years from 2011 to 2017, the cumulative decline was 2.5 percentage points, far better than the EU and Japan.
Fourth, the structure of export commodities has gradually improved, and the decline in export prices has not yet been reversed.
After the continuous industrial adjustment and transformation and upgrading in the early period of the “Twelfth Five-Year Plan†and the “Thirteenth Five-Year Planâ€, the structure of textile and garment export commodities has gradually improved. In 2017, the proportion of textile exports increased to 41.1%, and clothing fell to 58.9%, which was less than 60% for the first time. Textile exports grew by 4.2%, better than clothing, and clothing fell by 1.4%. Exports of yarns, fabrics and finished products of large categories of textiles all achieved growth, with an increase of 7.8%, 4.1% and 3.5% respectively. The total export of needle-woven garments in garments decreased by 2.3%.
From the analysis of the volume price index, the textile export quantity index was 108.7, the clothing was 105.1, the textile export price index was 95.79, and the clothing was 93.8. It shows that textile and garment exports are still subject to falling prices, and export growth still depends mainly on the increase in quantity.
Specifically, the export volume of yarns and fabrics increased by 5.6% and 8.4%, respectively, and the total export volume of needles and woven garments increased by 2.8%. Yarn export prices increased by 2.1%, while fabrics and needle woven garments fell by 4% and 4.9% respectively. The decline in export prices has not yet been completely reversed.
5. The eastern region resumed growth and Xinjiang's export status was upgraded.
In 2017, the top five exporting provinces, namely Zhejiang, Jiangsu and Shandong, achieved the growth of 0.9%, 7.4% and 2.3% respectively, while Guangdong and Fujian fell by 1.9% and 5.1% respectively. By region, exports accounted for nearly 96% of the eastern region, with an overall growth of 1.6%, and the central and western regions decreased by 4.9% and 4.2% respectively.
As the core area of ​​the Silk Road Economic Belt, Xinjiang has unique location advantages and resource endowments. In recent years, with the promotion of the local investment industry policy, Xinjiang has further accelerated the pace of industrial transfer in the coastal areas, and exports have achieved double-digit growth for two consecutive years. In 2017, exports reached 6.37 billion US dollars, an increase of 21.7%. In the national export rankings, the order jumped to the next level and rose to the 7th place.
6. The proportion of clothing imports continued to increase, and the volume of textile imports rose.
With the gradual reduction of import tariffs on consumer goods, the value of clothing imports has risen rapidly, and the proportion of clothing imports has gradually increased. In 2017, apparel imports reached 7.18 billion US dollars, an increase of 9.4%, accounting for 29.2%. The main factors driving the import of clothing are quantity growth. The clothing import quantity index is 115.9 and the import price index is 94.4. Among them, the import volume of large-sized commodity needle woven garments increased by 13.4%, and the average import price fell by 4.3%.
Imports of textiles reached US$17.38 billion, an increase of 3.7%, which was reflected in the increase in volume and price. The import quantity index is 100.5 and the import price index is 103.1. Imports of large categories of yarns and finished goods increased by 6.2%, and fabrics fell by 1.3%. The import and export of cotton yarns of key commodities fluctuated with the fluctuation of the national cotton storage. During the period of reserve cotton rotation, the import volume of outer yarns dropped sharply. After the end of the reserve cotton rotation, the import volume of outer yarns rebounded. In the whole year, the cumulative import volume increased slightly by 0.6%, and the average import price rose by 5.9%.
Editor in charge: Xu Yuehua
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