[Improvement in external demand will provide certain support for my country's home textile foreign trade]
Release date:[2024/5/8] A total of reading[65]time

From January to March this year, my country's home textile export momentum stabilized, with cumulative exports of US$7.39 billion, a year-on-year increase of 3.2%, and an increase of 27.4% over the same period in 2019. The export market shows a trend of differentiation, with exports to the United States, the European Union, Central Asia and other regions increasing, and exports to ASEAN, Japan and other regions declining.

Judging from the main market conditions, U.S. home textile imports increased slightly in the first two months, achieving positive growth for the first time since the beginning of 2023, and imports from China also showed a stabilizing trend. At the same time, the import demand of the European Union and Japan is also slowly recovering, and China still maintains a large advantage in its home textile exports. In terms of emerging markets, Central Asia, Latin America and other markets have great market potential, which is worthy of the attention of our home textile export companies.

Looking ahead, U.S. consumer demand remains resilient, the inventory replenishment cycle has begun, and U.S. retail sales continued to grow by 0.7% month-on-month in March. At the same time, the trend of consumption downgrade is obvious, and the sales of home textile discount stores are extremely hot. The net sales of discount retail giant TJX increased by 13% in the fourth quarter, the sales of its HomeGoods increased by 7% in the fourth quarter, and the sales of Marmaxx increased by 5%. %; Discount retailer Ross Stores’ home furnishings sales also bucked the trend and grew last year, with annual sales exceeding an important milestone of $5 billion, a strong growth of 9%. In the macroeconomic background where the global economic situation and trade environment are still complex and severe, the improvement in external demand will provide certain support for the steady and quality increase in the volume and quality of my country's home textile foreign trade.

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