China’s Textile And Apparel Exports Slip Back In May After Four Months Of Solid Growth
China's Apparel Exports Up 48.3% In January To May As Industrial Value-Added Of China's Textile Industry Decreased By 3.0% In May
This July there were Mixed messages from China’s textile and apparel industry as it registered stellar growth in the first five months of 2021, while the statistics for May 2021 showed a sharp decline.
Industry sources have attributed this to the decline in requirements for PPE fabrics and Apparel, as the global pandemic began to abate through vaccine application.
According to statistics from the General Administration of Customs, from January to May this year, China's textile and apparel exports amounted to US$ 112.69 billion, seeing a year-on-year increase of 17.3% (8.7% in CNY-denominated terms), grew by 3.2% over the same period before the epidemic (2019).
Among them, textile exports were US$ 56.08 billion, decreased by 3.1% year-on-year (10.3% in CNY-denominated terms); apparel exports reached US$ 56.61 billion, surged by 48.3% year-on-year (37.6% in CNY-denominated terms).
In May, China's exports of textile and apparel were US$ 24.32 billion, down 17.6% year-on-year (24.0% in CNY-denominated terms).
Due to the high export base of anti-epidemic materials in the same period last year, textile exports in May this year fell 41.2% year-on-year (45.7% in CNY-denominated terms).
And the export value was US$ 12.12 billion, up by 4.1% even compared to the same period in 2019.
In May, apparel exports maintained rapid growth and became the highlight of the industry's exports.
The apparel exports that month amounted to US$ 12.2 billion, seeing a year-on-year increase of 37.1% (26.6% in CNY-denominated terms), which fully reflects the independent controllable industrial chain of China's textile and apparel industry.
According to the National Bureau of Statistics, in May, China's value-added industrial output above designated size increased by 8.8% year-on-year (the growth rate hereinafter refers to price-adjusted actual growth rate), up by 13.6% year-on-year.
The average growth rate reached 6.6% in the past two years.
It edged up 0.52% from the previous month. And it rose by 17.8% in January-May. The two-year average growth rate was 7.0%.
Industrial output, officially called industrial value added, is used to measure the activity of certain large enterprises with annual turnover of at least CNY 20 million (about US$ 2.9 million).
The manufacturing output increased by 9.0% year-on-year in May and 19.3% in the first five months.
In May, the textile industry's value-added output declined by 3.0%, while it increased by 10.8% in January-May period.
By product, in May, the production of 428 out of 612 kinds of products increased year-on-year.
Thereinto, the output of fabric rose 6.9% year-on-year to 3.4 billion meters in May and increased by 12.3% to 15.1 billion meters in January-May, while the output of chemical fibers grew by 8.4% to 5.85 million tons in May and rose 19.2% to 27.55 million tons in January-May.
In May, the sales-output ratio of industrial enterprises was 97.4%, down 0.4 percentage points from the same period of last year.
