The growth rate of textile and garment exports declined

According to China Customs data, from January to May 2023, China's cumulative exports of textile and apparel products were 118.2 billion US dollars, down 5.3% year-on-year, of which the cumulative exports of textiles were 56.83 billion US dollars, down 9.4% year-on-year; The cumulative export value of clothing was 61.37 billion US dollars, down 1.1% year-on-year. Due to the downturn in overseas terminal retail consumption, at the same time, the domestic textile and garment export base in the same period last year led to the decline in export growth.

In recent years, whether it is the epidemic or the geographical dispute between two countries in Europe last year, the inflation rate and interest rate in Europe and the United States have risen, and the slowdown in economic and consumption growth under the influence has directly led to the slowdown in textile and apparel retail sales. Compared with the decline in the growth rate of terminal textile and garment exports, the export status of upstream polyester products is relatively good.

Polyester export growth, the market is expected to fall

According to China Customs data, from January to April 2023, China's polyester filament exports were 1373.37 thousand tons (including polyester high-strength yarn, the same below), an increase of 33.04%; Among them, China's polyester filament exports in April were 338.73 thousand tons, a decrease of 6.90% from the previous month and an increase of 41.86% year-on-year.

From the perspective of major export trading partners from January to April, exports to India 192.60 thousand tons ranked first, while exports to India increased by 265.30%, also ranked first;

From a specific analysis point of view, in the case of flat domestic trade demand for polyester filament in January-April this year, export trade increased significantly - in January-April 2023, the export volume of polyester filament was 1373.37 thousand tons, an increase of 341.06 thousand tons; Among them, exports to India in 192.60 thousand tons, an increase of 139.88 thousand tons, India's export increment alone accounted for more than 41% of the overall increase in polyester filament exports, it can be said that the polyester filament trade between China and India has boosted the positive increase in China's total polyester filament exports.