Import and export of polyester cord fabric move up in 2023

According to the data from China customs, import of cord fabric made from high-tenacity polyester yarn (hereinafter referred to as polyester cord fabric) was at 5676 tons in 2023, a year-on-year increase of 134%, and export of polyester cord fabric was at 137467 tons, up 4.53% on annual basis. The net exports amounted to 131790tons, up by 2.10% on annual basis.

Polyester cord fabric is a net exported product in China, with export far bigger than import.

Exports of polyester cord fabrics in the first half of 2023 was slightly smaller than that in the second half of year and it hit yearly low in Jun. Imports of polyester cord fabrics hiked on the year in 2023, mainly supported by local demand, which was the highest level in recent three years.

Among the export destinations, in 2023, Thailand remained the largest export destination, accounting for around 25%, followed by Japan and South Korea, taking up around 13% and 9% respectively. China's polyester cord fabrics were still mainly exported to Asia.

As for the YOY change of absolute export volume, export to India rose the most among the major export destinations and the export to Thailand continued declining more than other markets, still ranking the first place.

All in all, the import and export of polyester cord fabrics both increased on the year in 2023, and the export destinations did not change much.