An overview on fiber - clothing industry chain export in Q1

Recently, the China Customs announced the data of export trade in the first quarter. Because the monetary data are affected by various factors such as prices and exchange rates, converting all amounts into weight equivalents is advantageous for gaining a clearer insight into the true nature of exports

Total volume: month-on-month increase in March, but a significant year-on-year decrease.

The export in March 2024 increased, but there was a significant decline year-on-year; and both the data of total volume and specific products reflect similar trend, indicating that on the one hand, the effect of Chinese New Year diminished in February, and on the other hand, 

exports in March did face pressure.

(The data might be adjusted later)

Upstream&downstream: the exports of finished goods, clothing are better than yarn and gray cloth in Q1

Comparing to the stronger performance in upstream products, this year presents a stark contrast.. The finished goods and clothing exports have grown significantly. Meanwhile, the fiber, yarn and fabrics have seen slower growth.

Year-on-Year export growth by Segment in Q1: 2023 vs. 2024

From the perspective of more specified segment, for export growth, it is clear that the downstream segment has become the main force of growth this year.

However, from month to month, both exports of upstream and downstream products grew mainly in January-February, while declined in March, which may cause by the rush of year-end and early-year exports orders and the orders decline due to the impact of Ramadan.

Year-on-year growth rate of each major segment in January-March

This year, the market has high expectations for foreign trade demand, and terminal enterprises have reflected some export orders seems great, which still contains structural differentiation. The sustainability of export demand would be taken into concern.

For categories: polyester fabrics export grows, and filament slows down

From a more specified category, the exports of synthetic filament yarn woven fabrics grew the most in the first quarter, increasing 121,000 tons year-on-year, of which polyester filament woven fabrics takes up 113,000 tons. Viewing the declining category, synthetic filament decreased by 88,000 tons year-on-year, of which polyester POY decreased by 41,000 tons, and polyester FDY decreased by 56,000 tons.

In other words, the largest increase comes from polyester filament fabrics, while the biggest drag comes from polyester filament, resulting in a moderate overall export increase of 54 chapters.

Q1 export y-o-y growth for category (KT)