Chinese Exports Of Yarn Down 12.9% Between Jan-July
In the first seven months of the current year, Chinese overall exports and imports of yarn totaled US $11.35 billion, down 13.4 percent year on year.
Of this, exports of yarn stood at $8.26 billion, a drop of 12.9 percent from a year ago period and accounted for approximately 4.5 percent of China’s overall textile and apparel exports.
Chinese customs data informed that yarn imports in the period under review amounted to $3.09 billion, a year-on-year decline of 14.7 percent.
Volume wise in the first seven months of 2023, yarn exports were 3.57 million tons, up 8.7 percent year on year and the unit price was $2.31 per kg, a decline of 20.1 percent.
The ASEAN regions accounts for 20 percent of all yarn exports and is China’s largest yarn export market. Exports to ASEAN were $1.55 billion or down 20.1 percent year on year.
Yarn exports to ASEAN are dominated by manmade fibre yarns accounting for more than 75 percent market share, while cotton yarn exports have just 12 percent market share.
From January to July, China’s yarn exports to Vietnam touched $690 million, a year-on-year decline of 27.5 percent and its market share in Chinese yarn exports was 8.3 percent, behind India and Bangladesh.