From January to August 2023, the overall production of the industrial textile industry in China remained stable, and main economic indicators showed signs of stabilization. However, due to weak market demand, pressure of both domestic and foreign trade has not been completely relieved.
In terms of production, according to data from the National Bureau of Statistics, the growth rate of Nonwoven Fabric production by large-scale enterprises decreased by 3.5% year-on-year from January to August.
In terms of economic benefits, according to data from the National Bureau of Statistics, the operation revenue and total profit of nonwoven fabric enterprises of large-scale decreased by 5% and 66% year-on-year respectively from January to August. The profit margin was 1.2%, decreased by 2.2% year-on-year. In the short term, the industrial textile industry will continue to recover.
In terms of international trade, according to China Customs data, from January to August 2023, the export value of the industrial textile industry in China was 26.29 billion US dollars, decreased by 13.7% year-on-year; the import value was 3.51 billion US dollars, decreased by 16.4% year-on-year.
Based on specific products, the overseas demand for nonwoven fabric continued to recover, with an export volume of 851,000 tons, increased by 4.2% year-on-year, and an export value of 2.54 billion US dollars, decreased by 5.6% year-on-year. Disposable sanitary products (diapers, sanitary napkins, etc.) remained active in overseas markets, with an export value of 2.2 billion US dollars, increased by 15.5% year-on-year. The export value of wiping cloths (excluding wet wipes) was 920 million US dollars, decreased by 2.3% year-on-year.
In terms of export destinations, take nonwoven fabric, specialty yarns, threads, ropes, cables, and their products as example (accounts for a large proportion in industrial textiles industry), Asia is the largest export region, accounting for 57.1% of the total exports, followed by the European Union and Latin American markets, with shares of 11.3% and 8.9% respectively. Africa and North America markets accounted for 8.6% and 7.9% respectively. Vietnam, the United States, India, Indonesia, and Japan and South Korea are the main export destinations for the products mentioned above, accounting for 34.7% of the total exports.
