China's textile exports to this place increased by 15%! Foreign trade resilience is increasing, orders are on the way!

Release time:

2023-04-03

Since the beginning of this year, the textile foreign trade market has been under pressure, facing challenges such as weakening external demand in European and American markets and intensifying international competition. Because of this, the foreign trade textile enterprises in the March peak season did not receive large quantities of orders, but sporadically issued a few orders.
Bilateral trade between China and the United States is restricted.
The Sino-US trade war has been going on for five years, and this war without gunpowder is far from over. First, it started with tariffs, one link after another, then it involved all aspects of trade, and finally it evolved into a technology war, a talent war, and a financial war, to the point where it was out of control.
Recently, the news that "tens of millions of dollars of Chinese textiles and clothing have been detained" has spread all over the textile industry, and trade disputes within the industry have made a comeback.
A major textile trader exporting to the United States said: "Under the influence of the Sino-US trade war, the number of orders placed by customers is gradually decreasing. For example, the original 10 million order, now only 7 million. And these 7 million orders are still demanding, complex process orders. Simply put, the orders we receive now are some 'left', high-quality orders are transferred to Southeast Asian countries."
Exports are suppressed and orders are shifted to Southeast Asia.
Obviously, we also know from the mouth of the cloth boss that the current phenomenon of order transfer of textile fabrics and clothing is becoming more and more obvious. The largest market for global textile and apparel exports is China, but in recent years, with the rapid increase in labor costs in China and the development of markets such as Southeast Asia, China's market share has declined.
In 2022, Vietnam's textile and clothing exports amounted to US $37.566 billion billion, an increase of 14.7 percent over the previous year.
In December 2022, Bangladesh's garment exports increased by 9.5 percent year-on-year, and surged by 71 percent, 50 percent and 27 percent year-on-year in July, August and November.
It can be seen that the transfer of foreign trade orders for clothing in China is obvious. In particular, in previous years, under the influence of the epidemic, high shipping costs, global inflation, etc. have led to the return of domestic orders to shift again, or to cheaper areas, or to more geographically closer to the market, or to a more stable trading environment.
This year, in the context of complex international situations such as inflation rate hikes, global economic slowdown, and the war between Russia and Ukraine, global demand for textiles and clothing has weakened, which in turn has an impact on imports and exports in various markets. However, domestic textile enterprises have not been hindered, and strive to expand new markets and seize share.
According to CCTV news report: Recently, foreign trade companies have actively responded, trying to stabilize orders and expand new markets. China's foreign trade resilience is constantly increasing.
Expanding diversified markets has effectively enhanced the stability of foreign trade exports. In the first two months of this year, my country's exports to ASEAN and countries along the "Belt and Road" have increased by more than 15%. At the same time, in view of the order transfer brought about by the adjustment of international division of labor, many foreign trade enterprises are actively seeking change and begin to build their own brands to get rid of the path dependence on OEM orders.
Although we have not yet realized the relaxation of the foreign trade situation in the actual foreign trade market, as enterprises actively respond and go out to expand new markets, "see the hearts of the people for a long time", we will certainly see some results next. The second half of the year itself is the main order stage of the foreign trade market. Under the continuous recovery of the foreign trade situation, the follow-up market is still worth looking forward to by textile people.
From the perspective of downstream demand, foreign trade orders were not issued smoothly after the start of the year, and orders that should have been placed were not issued. April, or can usher in a wave of explosive growth. With the recovery of the economy in the second half of the year, my country's textile foreign trade exports still have certain advantages, and the later period may usher in opportunities.
Enterprises to participate in exhibitions abroad is an important means to help enterprises connect customers, create business opportunities and strive for orders.