The operation trend of China's knitting industry in the first three quarters of 2024 shows two characteristics. First, on the basis of the previous year, the operation scale and quality of the industry have stabilized and rebounded. The industry enterprises firmly enhance their confidence in development and constantly seek new breakthroughs under the new development background. Second, from the trend of this year, the growth rate of major operating indicators tends to slow down in the second half of the year, reflecting that the industry still faces many difficulties and needs to adhere to innovation and change to achieve high-quality development of the industry.
01 Operating revenue increased steadily
According to the statistics of the National Bureau of Statistics, from January to September 2024, the operating income of knitting enterprises above designated size increased by 2.12% year on year, rebounding from the previous year, but the growth rate decreased by 1.08 percentage points compared with the first half of this year; Total assets have achieved a sustained growth since this year, with a year-on-year growth of 4.11%, and the growth rate has increased by 0.51 percentage points compared with the first half of the year.
From the perspective of the two categories of products by industry, from January to September, the business income of enterprises above designated size of knitted fabrics increased by 3.17% year on year, and the growth rate decreased by 1.34 percentage points compared with the first half of the year; Total assets increased by 5.05% year on year, 1.06 percentage points higher than that in the first half of the year. From January to September, the operating income of enterprises above designated size of knitted clothing increased by 1.51% year on year, and the growth rate decreased by 0.93 percentage points compared with the first half of the year; Total assets increased by 3.57% year on year, 0.19 percentage points higher than that in the first half of the year.
In terms of production, from January to September this year, China's clothing production increased by 4.41% year on year, of which the production of knitted clothing increased by 7.45% year on year. The proportion of knitted clothing output in the total clothing output has reached 68.82%, which has remained above 68% since this year, continuing a steady growth trend. This trend reflects the change of consumption habits and the continuous innovation of consumption scenarios, which further promotes the development and application level of knitted apparel products.
02 Continuous improvement of operation efficiency
From January to September, the total profit of enterprises above designated size in the knitting industry increased by 3.14% year on year, 1.78 percentage points slower than that in the first half of the year; The profit rate was 3.95%, slightly higher than that of the same period last year. Among them, the profit margin of enterprises above designated size for knitted fabrics was 3.73%, up 0.43 percentage points over the same period of the previous year; The profit rate of knitted clothing was 4.08%, down 0.18 percentage points compared with the same period last year.
The operating efficiency of the industry is generally good, the proportion of operating costs and three expenses has decreased year on year, and the loss of enterprises has narrowed significantly compared with the beginning of this year. From January to September, the operating cost of enterprises above designated size in the knitting industry per 100 yuan of operating income was 88.15 yuan, slightly lower than the level of the same period last year; The three expenses accounted for 7.20%, a decrease of 0.24 percentage points over the same period of the previous year. From January to September, the loss of enterprises above designated size in the industry was 22.40%, 3.68 percentage points lower than that in the first half of this year.
03 Export continued to grow
According to customs data, from January to September 2024, China's export of knitted products reached US $81.033 billion, up 3.15% year on year, 2.65 percentage points higher than that of textile and clothing exports in the same period, and the annual export volume is expected to exceed US $100 billion again. Among them, the export of knitted fabrics was 17.733 billion US dollars, up 8.4% year on year, basically flat compared with the first half of the year; The export of knitted apparel and accessories reached US $63.3 billion, up 1.8% year on year, 1.6 percentage points lower than that in the first half of the year. At the same time, it should also be noted that the inner volume is spreading to the export. The customs data show that the export of knitted clothing has "increased in quantity and decreased in price", which is worth paying attention to.
From the perspective of main export markets, the export growth of China's knitting products to the top three markets of ASEAN, the United States and the European Union is higher than the average growth level, continuing a good growth trend. At the same time, the share of Chinese products in the import trade of knitted products from the United States and the European Union has also rebounded.
From January to September this year, China exported US $15.874 billion of knitting products to the United States, up 7.55% year on year. In addition, according to the statistics of the US Department of Commerce over the same period, from January to August, China's knitting products accounted for 22.03% of the US import trade, up 0.99 percentage points over the same period of the previous year.
From January to September, China's knitting products were exported to the EU for US $11.591 billion, up 3.33% year on year. In addition, according to the statistics of Eurostat in the same period, from January to August, China's knitting products accounted for 26.69% of the EU's import trade volume, 0.88 percentage points higher than that of the same period last year.
From January to September, the export of China's knitting products to ASEAN reached 13.79 billion US dollars, up 5.76% year on year, of which the export to Thailand achieved a high growth of 31.25%.
In addition, from January to September, the export of China's knitting products to Bangladesh and the five Central Asian countries also achieved good growth, with year-on-year growth rates of 25.34% and 23.87% respectively.
At the same time, we should also see the degree of fierce competition in the international market, and the export scale of Vietnam, Bangladesh and other countries continues to expand. At present, Vietnam has accounted for 17.27% of the U.S. knitting product import trade market, only 4.77 percentage points lower than China; In recent years, Vietnam's trade share in Japan's knitting product import market has also grown rapidly. Bangladesh ranks second in the import trade market of EU knitted products market, accounting for 24.35%, which is very close to the share of China's products.
From the perspective of sub categories, the export of four categories of products, including T-shirts and sweaters, increased significantly. From January to September, the export of T-shirts and sweaters reached US $8.529 billion, a year-on-year increase of 24.99%, of which the export to Kazakhstan reached US $1.065 billion, a year-on-year increase of 504.57%, with an increase amount of US $889 million, accounting for 52.12% of the total increase amount of such products; The export of underwear and home clothes (excluding bra) reached US $7.762 billion, up 6.79% year on year; Shirt export reached 1.364 billion US dollars, up 9.43% year on year; The export of warp knitted fabrics was 1.027 billion US dollars, up 8.87% year on year.
From the perspective of local customs data, Zhejiang, Jiangsu and other key coastal areas in the east continue to enjoy good growth momentum. From January to September, Zhejiang, Jiangsu and Guangdong, the top three in terms of export scale, achieved exports of US $25.462 billion, US $11.043 billion and US $10.974 billion respectively, of which the export growth of Zhejiang and Jiangsu reached 7.17% and 8.84% respectively. In addition, Xinjiang and Shanghai also achieved good growth, with growth rates of 32.96% and 7.2% respectively, significantly higher than the average level. With the continuous release of the effect of the "Belt and Road" policy, the first anniversary of the construction of the Xinjiang Free Trade Zone has achieved remarkable results. At the same time, thanks to the positive impact of entrepot trade, it further boosted the export volume and year-on-year growth of Xinjiang.
04 The growth of domestic market slowed down
According to the data of the National Bureau of Statistics, the retail sales of clothing, shoes and hats, and knitwear and textiles above the designated size in China from January to October were 1157.1 billion yuan, up 1.1% year on year, slightly down from the first half of the year. Over the same period, the year-on-year growth rate of online retail sales of physical goods in China was 4.7%, 2.3 percentage points lower than that in the first half of the year. E-commerce dividends began to fade and gradually returned to normalization. The future development of the enterprise needs to focus on online and offline integration, pay attention to the development trend of terminal channels and the accumulation of information resources, improve the conversion rate of customers and promote a virtuous circle.
In addition, according to the statistics of the National Bureau of Statistics, the purchasing managers' index (PMI) of China's manufacturing industry in October was 50.1%, up 0.3 percentage points from the previous month, and the prosperity level of the manufacturing industry rebounded. Among them, the production index was 52.0%, up 0.8 percentage points over the previous month, indicating that the production activities of manufacturing enterprises continued to accelerate; The index of new orders was 50.0%, 0.1 percentage points higher than that of the previous month, which was at the critical point, indicating that the overall level of market demand in the manufacturing industry was basically the same as that of the previous month.
To sum up, in the first three quarters of this year, the operation of China's knitting industry has achieved a year-on-year recovery and a steady upward trend, but we should also see the growth rate fall back. At the same time, in the adjustment and upgrading of the industrial structure and the fluctuation of the market environment, we still face many challenges and difficulties. In the face of the complex and changeable external environment, we should firmly implement and promote the construction of new quality productivity in China's textile industry, and strive to meet the growing consumer demand through a more sustainable development path. With individuation, quality, greening, experience and functionality as the important direction, in the face of market changes, we explore ways to avoid homogeneous competition by means of upgrading, meet domestic and foreign market demands with high-quality supply, and achieve healthy and stable sustainable development of the industry.
Post time: 2024-11-28 10:22