VFY export of China posts a notable y-o-y growth in Jan-Feb

According to customs data, VFY (H.S. code: 54033190) export of China in the first two months of 2025 totals 17.464kt, a year-on-year increase of 26.62%. The export in Jan and Feb is respectively 9.14kt and 8.323kt, up 30.78% and 22.35% on yearly basis. The average export volume in the first two months of 2025 is 8,732 tons, which is higher than 6,896 tons in the same period of 2024.

The export price of VFY started to rebound in Dec 2024 after falling below $5,200/mt in the previous month, which has resumed to $5,345/mt in Feb 2025. In the first two months of this year, the average export price of VFY is $5,309, which is much lower than the comparable 2024 level of $5,570/mt.

India, Pakistan, Turkey and Italy are still the top four destinations of China's VFY export, accounting for 91% of total in the first two months of 2025. As for origins, Xinxiang Chemical Fiber, Jilin Chemical Fiber, Yibin Grace and Hubei Golden Ring are the major exporters in China, taking up 98% of the total volume.

Among the top four destinations, the export to India and Pakistan saw a notable year-on-year increase of 46% and 37% respectively in the first two months of 2025, while that to Turkey and Italy decreased by 40% and 14% respectively. As for the top four origins, the export volume generally improved with a year-on-year growth ranging from 25% to 31%, except for a reduction from Hubei where the volume decreased by 18% compared with the same period of 2024.