In the first three quarters, the industrial textile industry showed a trend of restorative growth, and exports were in the recovery range
In the first three quarters of 2024, the global economic growth momentum was strong, but inflationary pressure, trade tensions and tightening investment environment still existed; my country's economic operation was generally stable and progressing, high-quality development was steadily promoted, and positive factors accumulated. The economic operation of my country's industrial textile industry showed a trend of restorative growth, market demand continued to recover, and the industry's exports were in the recovery range as a whole. According to the association's survey, the prosperity index of my country's industrial textile industry in the first three quarters of 2024 was 68.7, an increase of 1.6 percentage points from the first half of the year.
Exports continued the trend of "increase in volume and decrease in price"
According to China Customs data (customs 8-digit HS code statistics), in the first three quarters of 2024, my country's industrial textile industry exports reached US$30.47 billion, a year-on-year increase of 4.1%, and the growth rate expanded by 0.8 percentage points compared with the second quarter (Table 2); the industry's imports were US$3.74 billion, a year-on-year decrease of 4.8%, and the decline continued to narrow compared with the second quarter. In the first three quarters of 2024, the exports of key products (Chapters 56 and 59) of my country's industrial textile industry to major markets maintained a relatively high growth rate, such as exports to Vietnam and the United States increased by 19.9% and 11.4% respectively, and exports to Cambodia increased by 27.7%; but exports to India and Russia decreased by 7.8% and 10.1% respectively.
In terms of major export products, the export value of key export products such as industrial coated fabrics, felt/tents, non-woven fabrics, diapers and sanitary napkins, cords and cables, canvas, and industrial fiberglass products maintained a certain growth in the first three quarters of 2024; the export value of wiping products (wet and dry wipes), structural reinforcement textiles, and other industrial textiles maintained a relatively high growth rate; the overseas demand for disposable sanitary products such as diapers and sanitary napkins shrank. Although the export value continued to grow, the growth rate was 10 percentage points lower than the same period in 2023.