The export is under steady pressure, and the export market is diversified

In the third quarter, affected by overseas demand contraction, complex and changing international trade environment and other factors, the direct export pressure of China's main printing and dyeing products has increased, the export market competition has intensified, and the average export unit price has further declined. According to China Customs data, from January to September, the export volume of eight categories of printing and dyeing products was 23.615 billion meters, an increase of 4.82%, and the growth rate fell 0.55 percentage points compared with the first half of the year; The export value was 22.725 billion US dollars, down 4.92% year on year and 0.90 percentage points higher than that in the first half of the year. The average unit price of exports was 0.96 US dollars/meter, down 9.29% year-on-year, and the decline increased by 0.42 percentage points compared with the first half of the year.

China's indirect exports of printing and dyeing products also showed varying degrees of decline, specifically, the garment industry exports still continued to decline, from January to September, China's cumulative exports of clothing and clothing accessories 121.23 billion US dollars, down 8.8%, an increase of 2.9 percentage points compared with the first half of the year; The home textile industry showed a recovery trend, from January to September, China's home textile exports amounted to 34.676 billion US dollars, down 3.22%, the decline narrowed by 2.40 percentage points compared with the first half of the year.

From the main export market, from January to September, China's eight categories of printing and dyeing products exported 5.261 billion meters to ASEAN, an increase of 0.97%, and exported 5.655 billion meters to RCEP trading partners, an increase of 0.35%, the growth rate was 3.85 and 4.47 percentage points lower than the total export growth rate, respectively. It is mainly affected by the decline in exports to major countries such as Vietnam, the Philippines, Thailand and South Korea.

From the main export countries, China's printing and dyeing industry export market diversification characteristics are more obvious. Vietnam and Bangladesh, as the two largest garment exporters after China, have a large demand for printing and dyeing fabrics in China. Since this year, affected by the contraction of market demand in Europe and the United States, the number of printing and dyeing fabrics imported from Vietnam and Bangladesh has declined. In the first three quarters, the number of exports of eight categories of printing and dyeing products to Vietnam and Bangladesh has decreased by 4.32% and 12.36% respectively. However, in the same period, exports to Indonesia, Brazil, India and Russia have achieved rapid growth, and the growth rate is significantly higher than the average growth rate of exports, which has played a certain supporting role in maintaining the stability of the export scale of China's printing and dyeing industry.

In the first three quarters of 2023, China's printing and dyeing industry faces the downward pressure brought by the risk challenges from abroad and the overlapping of multiple domestic factors, and the economic operation continues to recover for the better on the whole, showing strong development resilience. Looking forward to the fourth quarter, the printing and dyeing industry is still facing more unstable and uncertain factors. On the international front, the Russia-Ukraine conflict and the Palestinian-Israeli conflict are still ongoing, and global geopolitical risks are still at a high level, which will continue to affect the stability of the international trade environment and the security of industrial and supply chains. In the context of the interest rate hike, the inflationary pressure in major developed economies has eased, but the risk of recession has risen, the cumulative effect of tight monetary policies will continue to emerge, and international market demand is still difficult to effectively release. The trend of anti-globalization has been repeated, trade protectionism has risen, and the trade policy of "near shore" and "friend shore" has formed pressure on the export of China's printing and dyeing industry.

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