Views: 0 Author: Site Editor Publish Time: 2022-09-02 Origin: Site
In August, major markets in Southeast Asia have continued to generate demands for sewing machinery, and South and North America markets also recover. China has exported sewing machinery worth of 308mn USD, maintaining a high YoY growth rate. However, afflicted by high inflation, energy crises, high consumption costs around the world, developed countries' demands for garment have declined noticeably. As a result, China's export of sewing machinery has slowed down, and the monthly growth rate has dropped to -11.82%.
According to the Customs, China has exported sewing machinery worth of 2,367mn USD in the first 8 months, increasing 18.87% on a YoY basis, and setting a record high compared with the same period over the past few years. Among the products, China has exported industrial sewing machines of 3.5mn sets (13.41% higher on a YoY basis), worth of 1,267mn USD (a YoY increase of 33.43%), of which the monthly export is also unparalleled; embroidery machines of 37 thousand sets (increasing 55.97%), worth of 327mn USD (growing 48.08%).
However, the demands for household sewing machines continue to drop sharply due to major export destinations have fully reopened their economy and reinstated daily life. As a result, China's export volume and value of the same has respectively declined 36.70% and 34.97%.
In August, China has exported sewing machinery worth of 308mn USD, still quite a high level, growing 20.94% on a year-on-year basis but declining 11.82% compared with the previous month. Among them, industrial sewing machines of 0.42mn sets, increasing 11.69% compared with the same period a year earlier, but falling 12.94% compared with a month earlier. Its monthly export value is 150mn USD, soaring 25.72% on a YoY basis, but falling 17.57% compared with the previous month.
In the first 8 month, China has seen its export to South America, Oceania, the rest of Asia grow compared with a year earlier, while its export to Europe, Africa and North America falls. By regions, China has exported sewing machinery worth of 1,602mn USD to BRI countries, increasing 28.10%, which constitutes 67.67% of the total export, and its proportion also grows 4.88% compared to a year earlier; export to RECP countries worth of 816mn USD, increasing 28.24%, which constitutes 34.50% of the total export, and the proportion grows 2.52% compared to the same period a year earlier; export to ASEAN countries worth of 685mn USD, growing 35.25% on a YoY basis; export to South Asian countries worth of 534mn USD, rallying 41.29%; export to Middle East worth of 222mn USD, skyrocketing 42.48%; export to EU worth of 122mn USD, dropping 13.06%; export to East Asian countries worth of 120mn USD, dipping 1.48%; export to Central Asia worth of 50mn USD, falling 14.30%.
By countries, of all the 196 export destinations of sewing machinery, more than 60% have seen positive growth; 18 out of the top 20 export destinations saw substantial growth, 14 of them has experienced two-digit growth rate, and 8 of them has realized a growth rate higher than 50% in August.
During the same period, India has once again surpassed Vietnam, becoming China's largest export market of sewing machinery. China has exported the same to India worth of 299mn USD, rallying 70.67% on a year-on-year basis, which constitute 12.64% of the total export; export of sewing machinery to Vietnam is 291mn USD, increasing 16.20%, which constitute 12.31% of the total export of this sector; during the same period, China has exported sewing machinery worth of 121mn USD to Bangladesh, soaring 52.79%, which make up 5.11% of the total export. Furthermore, China's export of sewing machinery in the first 8 months to countries like India, Vietnam, Bangladesh, Singapore, Turkey, Indonesia, Malaysia, Cambodia, UAE have witnessed substantial growth, while that to Pakistan, South Korea, Nigeria, Uzbekistan, Egypt decline.
In August, China's export of sewing machinery to ASEAN countries has grown 25.39% on a YoY basis, but falling 33.83% compared with a month earlier; export to India has grown 80.33% on a YoY basis, but declining 13.16% when compared with July; export to Vietnam has grown 12.25% on a YoY basis, but falling 27.17% when compared with July. Moreover, exports to USA, Turkey, Japan, Brazil, Singapore, UAE, Uzbekistan, Mexico have seen double-digit growth, and exports to Russia, Malaysia, Qatar, Argentina, Myanmar have multiplied, while exports to Indonesia, Cambodia, South Korea, Holland have suffered decline.
According to data released by the Customs, China has imported sewing machinery worth of 589mn USD in the first 8 months, falling 9.44%. By categories, 30.5 thousand sets of industrial sewing machines, worth of 69.64mn USD, declining 15.23% and 14.04% respectively; 73.6 thousand sets of household sewing machines (increasing 12.85%), worth of 5.36mn USD (falling 6.69%); 20.5 thousand sets of pre- and post-sewing equipment (increasing 42.46%), worth of 458mn USD (falling 8.31%); spare parts worth of 53.02mn USD, falling 7.15% on a YoY basis; 322 sets of embroidery machines worth of 3.17mn USD, nose-diving 26.82% and 56.08% separately.
In August, China has imported sewing machinery worth of 63.74mn USD, falling 10.94% compared with a year earlier, and declining 18.94% compared with a month earlier. By categories, 4,389 sets of industrial sewing machines (growing 5.94% compared with a year earlier), worth of 9.12mn USD, declining 19.94 compared with a year earlier, while increasing 2.52% and 2.89% respectively compared with a month earlier.
