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China's spandex export drop in Jan-Apr, 2023

2023-06-21 07:54:09 CCFGroup

According to the latest data from China customs, exports of spandex amounted to 22.8kt in Jan-Apr, 2023, down by above 20% or 6874 tons on the year. Imports of spandex approached 12.9kt in Jan-Apr, 2023, up 80.7% on annual basis. The net exports of spandex were at 9868 tons, down by 56.1% year on year. Spandex imports surged by above 80% in Jan-Apr, 2023 but exports shrank by more than 20%, ending up with apparently decreasing net export.

Export volume and value both fell

Exports of spandex amounted to 22.8kt in Jan-Apr, 2023, down by 23.2% or 6874 tons on the year. The export unit price was at $5.210/kg in Jan-Apr, 2023, down by $3.850/kg on the year. Export of spandex slowly increased in Q1 2023. Exports were low in Jan and Feb affected by the Spring Festival but obviously increased in Mar. The spandex exports in Q1 2023 was far lower than the corresponding period of 2020-2022 and was close to that in Q1 2019. Imports of spandex slightly decreased from high level in Apr but exports also decreased. The net exports sustained low. Spandex exports were at 5775 tons in Apr, 2023, a year-on-year decrease of 2% and a month-on-month reduction of 11.3% respectively. The export unit price was at $5.262/kg in Apr, up by $0.051 over last month.

Major export destinations

Spandex were exported to 98 nations or regions in Jan-Apr, 2023, up by 6 on annual basis. Turkey sustained the biggest export destination, followed by Vietnam and Egypt. South Korea was the fourth biggest export market. The proportion of the top four nations amounted to 48.6% of the total.

Major export destinations of spandex in Jan-Apr, 2023
Destination	Volume/kg	Value/USD	Proportion	Average price/$/kg	YOY change/kg	YOY change/%
Turkey	4,156,712	17,919,442	18.30%	4.311	-7,281,788	-63.70%
Vietnam	3,609,681	17,734,091	15.90%	4.913	2,025,995	127.90%
Egypt	1,660,848	7,455,953	7.30%	4.489	356,710	27.40%
South Korea	1,643,768	8,895,171	7.20%	5.411	-308,841	-15.80%
India	962,323	5,194,031	4.20%	5.397	359,085	59.50%
Bangladesh	860,484	4,135,432	3.80%	4.806	76,367	9.70%
Pakistan	816,562	5,686,904	3.60%	6.964	-648,421	-44.30%
Indonesia	813,412	4,246,393	3.60%	5.22	-81,747	-9.10%
Columbia	758,595	3,294,799	3.30%	4.343	249,095	48.90%
Netherlands	579,280	4,682,987	2.50%	8.084	71,684	14.10%
Other	6,905,255	39,378,367	30.30%	5.703	-1,691,731	-19.70%
Total	22,766,920	118,623,570	100%	5.21	-6,873,592	-23.20%

Major export origins in China

Exports of spandex from Fujian and Ningxia apparently increased in Jan-Apr, 2023, while those from other regions reduced by 7.5-51.4%.

Major export origins of spandex in Jan-Apr, 2023 (Unit: kg)
Origin	2023	2022	Change
Zhejiang	5,946,803	10,490,404	-43.30%
Chongqing	3,802,151	5,017,161	-24.20%
Jiangsu	3,708,804	5,079,512	-27.00%
Fujian	3,559,665	1,117,590	218.50%
Henan	2,033,125	2,198,239	-7.50%
Guangdong	1,976,961	4,070,366	-51.40%
Ningxia	1,031,512	13,516	7531.80%
Other	707,899	1,653,724	-57.20%
Total	22,766,920	29,640,512	-23.20%

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