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China's PSF exports keep high in Jan-Sep, 2023

2023-10-31 08:55:08 CCFGroup

According to the China Customs, uncarded PSF exports of China were 99.7kt in Sep, 2023, an increase of 14.5% year on year but down 1.8% month on month.

In the first nine months of 2023, exports totaled 904.4kt, up 21.2% year on year. The exports sustained good this year and reached multi-year high.

In terms of the top 10 export destinations in Jan-Sep, 2023, Vietnam remained the largest export markets, with a volume of 157,715 tons, up about 40.74% from the same period of 2022. Pakistan ranked the second place, up 23.8% year on year. U.S. and India saw a year decline, down by 5.57% and 3.71% respectively. Exports to India were abnormal this year affected by the BIS certification.

Top 10 export destinations of PSF in Jan-Sep, 2023
Unit: KT	2023	2022	yearly change
Vietnam	157,715.19	112,063	40.74%
Pakistan	93,601.05	75,596	23.82%
Turkey	58,612.03	28,796	103.54%
Indonesia	54,166.81	51,424	5.33%
Bangladesh	48,619.65	40,451	20.19%
Brazil	45,993.44	40,904	12.44%
United States	39,897.47	42,249	-5.57%
Russia	36,687.92	31,024	18.26%
Israel	29,240.91	25,621	14.13%
India	27,641.85	28,706	-3.71%

For the export market proportion, Vietnam took the largest share of 16.8%, up 2.4% year on year. Pakistan and Turkey took the second and third largest shares, at 10.3% and 6.5% respectively. Again, the shares of United States reduced to 4.4%, down 0.2% year on year.

Proportion change of PSF export destinations in Jan-Sep, 2023
Vietnam	17.4%	15.0%	2.4%
Pakistan	10.3%	10.1%	0.2%
Turkey	6.5%	3.9%	2.6%
Indonesia	6.0%	6.9%	-0.9%
Bangladesh	5.4%	5.4%	0.0%
Brazil	5.1%	5.5%	-0.4%
United States	4.4%	5.7%	-1.2%
Russia	4.1%	4.2%	-0.1%
Israel	3.2%	3.4%	-0.2%
India	3.1%	3.8%	-0.8%

PSF exports maintain good in the first three quarters of 2023 and with the continual capacity expansion, exports may keep improving in 2024.

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