Home / Knowledge / News / Textiles / Chinese silk exports decline in Q1 2014
Chinese silk exports decline in Q1 2014
13
Jun '14
In the first quarter of 2014, a decline was observed in silk exports from China, and profit margins of silk textile enterprises also dropped due to rising business costs.
 
According to the figures from the National Bureau of Statistics, from January to March 2014, statistics of 989 large-scale silk textile finishing and industrial enterprises show that the industry’s main business income increased by 5.61 percent year-on-year to 27.356 billion yuan, while profit rose by 4.05 percent to 1.157 billion yuan. Although the whole industry realized modest growth in profits, the actual growth has slowed down compared to the same period in 2013.
 
Among other indicators, during the first quarter, inventories of silk textile and finishing industry increased by 7.85 percent to 13.064 billion yuan, corporate operating expenses increased by 4.73 percent, administrative expenses were up by 6.21 percent, while financial expenses, including interest payments, increased by 4.71 percent.
 
Statistics show that the total number of loss-making silk textile enterprises grew by nearly 60 percent during the three-month period. 
 
According to customs statistics, from January to March, the national silk merchandise exports earned US$ 713 million, down 12.6 percent year-on-year. Of this, silk garment exports decreased by 21.5 percent to $244 million. In terms of volume, China exported 23.077 million pieces during the quarter, showing a decrease of 68.7 percent. The unit price, however, increased by 150.59 percent.
 
Silk exports to only Italy and Germany, among the top ten Chinese silk export destinations, showed a slight increase in exports, while exports to India dropped by 27.85 percent year-on-year.
 
Looking at the performance of the Chinese silk industry in the first quarter of 2014, the situation is not optimistic. The first main factor that is likely to affect the performance is the frequent fluctuation in currency exchange rate, which puts Chinese domestic export enterprises at foreign exchange risk. The second factor is the gradual weakening of domestic labor price advantage, resulting in gradual transfer of orders to India, Vietnam, Cambodia and other Southeast Asian countries, that have low labor cost advantage.
 
In addition, there is also raw silk cocoon production pressure. The gradual transfer of rural labour to urban areas has severely constrained the traditional cocoon production in Jiangsu, Zhejiang and other coastal provinces.
 
However, due to the favourable government policy, as reflected in the September 2013 joint declaration by the Ministry of Commerce and eight other departments for further promotion and healthy development of silk industry, China’s silk industry will gradually adjust and upgrade.
 

Fibre2fashion News Desk - India


Must ReadView All

Market share of Indian textile items expand in 13 nations

Textiles | On 11th Dec 2017

Market share of Indian textile items expand in 13 nations

Thirteen countries — Germany, France, Italy, the United States,...

Courtesy: EUBrasil

Textiles | On 11th Dec 2017

Euratex, ABIT welcome negotiations for EU-Mercosur FTA

European Apparel and Textile Confederation (Euratex) and the...

Most firms expect no change in investment plans: CII survey

Textiles | On 11th Dec 2017

Most firms expect no change in investment plans: CII survey

Despite visible optimism in Indian industry with the Confederation of ...

Interviews View All

Stefan Warnaar
Peak to Plateau

People are willing to pay for quality and performance

Darshan Mehta
Infinium Polychem

We are spending double digit figures on R&D

Sonia Agarwal
Whitenife

‘The terms eco-friendly and organic are common but everyone perceives them ...

Urmil Arya

Sushila International, a well established textile organisation established ...

Abhishek Pachauri

Reckon Industries adapts latest systems for manufacturing from designing...

Hardik Sanghvi

Idealin Fogging Systems has been engaged in designing and manufacturing...

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Kevin Nelson
TissueGen

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Nisha Chanda
Whistling Woods International School of Fashion

<div>A lack of upgraded courses in costume designing and fashion as per...

Aditi Somani
Aditi Somani

Aditi Somani specialises in luxury fusion wear with international cuts and ...

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

December 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
69.2%
No
12.1%
Skip
18.7%

Total Votes: 91

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
61.5%
No
30.8%
Skip
7.7%

Total Votes: 91

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
86.8%
No
9.9%
Skip
3.3%

Total Votes: 91

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
81.3%
No
8.8%
Skip
9.9%

Total Votes: 91


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search