Textile Industry’s Boom Index Picked Up in July in China

By CnAgri2012-08-30 13:33:13 Print

According to the National Bureau of Statistics, China’s retail value of garments, shoes and knitted wear by medium and large enterprises was RMB65.1 billion in July, up 18.4% on the year-on-year basis. Adjusting for price, the increase rate was 14.62%.

The nation’s major commercial enterprises’ sales of garments, sales of woven and knitted products and sales of shoes and hats added 8.9%, 8.2% and 7.5% respectively in July on the year-on-year basis. Adjusting for price, the increase rates were 5.93%, 7.02% and 4.57% respectively.

The textile industry’s exports valued $23.889 billion in July, down 8.12% on the year-on-year basis. Adjusting for US currency appreciation, the export value actually grew 2.96%. The textile industry’s export value accounted for 13.5% of the nation’s total in July.

Adjusting for inflation, the textile industry’s added value increased 9.9% in July on the year-on-year basis, slightly higher than the month before.

The textile industry received RMB40.55 billion investment in July and the garment, shoes and hat industry RMB23.52 billion, up 30.74% and 12.12% respectively on the year-on-year basis. Adjusting for inflation, their increase rates were 33.6% and 15% respectively, higher than the month before.

Considering the slowdown of energy price growth rate, the cost (cotton cost excluded) of yarn production was estimated to be RMB5,515/MT in July, suggesting a profit of RMB1,310/MT and profit ratio of 5.27%. The textile industry’s boom index picked up to 9.84% in July.

From "China Cotton Market Bi-Weekly Report"