China’s woollen yarn and textile exports fare best
Chinese customs data would suggest that the country’s exports of intermediate woollen products performed best during the first quarter (Q1).
Exports of intermediate articles to downstream manufacturers in India, Japan, the European Union and Association of Southeast Asian Nations (ASEAN) member countries were “good” overall, local media said, with exports of woollen yarn rising 12.7% year on year to reach almost 7,900 tonnes.
Exports of woollen yarn and textiles to countries participating in China’s Belt and Road Initiative (BRI) reportedly accounted for 78% and 74% of total export volume, respectively.
Meanwhile, Q1 exports of wool textiles across the board achieved an 88.9% growth rate over the year previous, reaching 13.4 million metres.
The total export value of raw materials was flat on the comparative period at around $2.2 billion, however. Knitted woollen garments also declined by 10% year on year, whereas exports of woven wool articles registered a reduction of 20%.
The amount of wool imported over the period dropped by 14.4% to 58,000 tonnes, which was attributed to the nation’s “relatively high” existing stocks. Chinese media also pointed to the effects of covid-related quarantines and epidemic prevention measures on producers’ demand for this raw material during Q1, largely due to workforce restrictions.
Image: Anastasia Zhenina.
