China's textile machinery trade dips in 2015

In January-November 2015, textile machinery exports from China dropped 0.53 per cent to $2.82 billion, while imports were down 26.36 per cent to $2.66 billion.

Among exports, knitting machinery accounted for 29.51 per cent of the total amounting to $831 million. This was followed by exports of auxiliary equipment and parts, and printing, dyeing and finishing machinery. However, the export of spinning machinery registered significant decline.

India, Bangladesh, Vietnam, Indonesia and Pakistan, in that order, were the top five importers of Chinese textile machinery. These five countries together imported 54.94 per cent of the total Chinese exports.

In terms of imports, spinning machinery accounted for $520 million, accounting for 19.5 per cent of the total. However, spinning machinery imports were down 14.91 per cent year-on-year. The import of all major categories of textile machinery saw negative growth.

China imported textile machinery and accessories from 62 countries. Of these, five countries—Germany, Japan, Italy, Taiwan and Belgium—together supplied $2.20 billion of machinery, contributing 82.72 per cent of the total import. Germany was the top supplier with $1.086 billion.

Even as China's textile machinery industry continues to face challenges, the One Belt One Road strategy is likely to provide new opportunities to Chinese textile machinery manufacturers. (RKS)

Fibre2Fashion News Desk – China