Import and export of polyester cord fabric extends higher in Jan-Sep, 2024

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 3961 tons in January-September, 2024, a year-on-year increase of 17.96%, and export of polyester cord fabric was at 123193 tons, up 18.44% on annual basis. The net exports amounted to 119232 tons, up by 18.46% on annual basis.

Polyester cord fabric remains a net exported product in China.

Monthly exports of polyester cord fabrics averaged at 13688 tons in January-September, which hit the highest level in May in recent years, staying at 15729 tons. Imports of polyester cord fabrics continued increasing in the first eight months of 2024 but fell in September, with the total import in January-September still hitting the highest level since 2021, and the monthly import averaged at 440 tons, mainly driven by local demand.

Among the export destinations, in January-September 2024, Thailand remained the largest export destination, accounting for around 26%, followed by Japan and South Korea, taking up around 9.6% and 5.2% respectively. China's polyester cord fabrics were still mostly exported to Asia.

As for the YOY change of absolute export volume,export to Thailand rose the most among the major export destinations and the export to Japan and South Korea reduced further.

In summary, the import and export of polyester cord fabrics both increased on annual basis on the year in January-September, 2024, and the major export destinations sustained largely stable.