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A stable outlook for Chinese home textile industry

"Chinas’ home textile industry, during the first 11 months of 2018, maintained a steady growth rate. National Bureau of Statistics claims, around 1,861 home textile companies achieved total revenue of 193.302 billion yuan during January-November 2018, a year-on-year increase of 3.78 per cent and a decrease of 0.82 percentage point over the same period previous year."

 

Chinese home textile industryChinas’ home textile industry, during the first 11 months of 2018, maintained a steady growth rate. National Bureau of Statistics claims, around 1,861 home textile companies achieved total revenue of 193.302 billion yuan during January-November 2018, a year-on-year increase of 3.78 per cent and a decrease of 0.82 percentage point over the same period previous year.

Out of these total companies, 202 enterprises surveyed by China Home Textile Association registered a 1.14 per cent year-on-year increase on their business main income amounting to 76.871 billion yuan. However, the association registered a 4.78 per cent point’s decrease in income growth rate compared to the same period previous year. The 13 industrial clusters tracked by the Association realised revenue of 273.282 billion yuan, a year-on-year increase of 5.68 per cent from the same period of the previous year.

Outstanding performance by fabric companies

Statistics from the National Bureau of Statistics indicated, the fabric industry performed outstandingly in theA stable outlook for Chinese home textile industry first 11 months of 2018. The year on year revenue of 223 fabric enterprises increased by 7.77 per cent to 22.044 billion yuan. Around 287 towel enterprises above designated size achieved the main business income of 36.246 billion yuan, a year-on-year increase of 5.65 per cent, 1.87 percentage points higher than the overall growth rate of the home textile industry; 988 above-designated bedding enterprises realised a revenue of 101.782 billion yuan from January to November, an increase of 2.87 per cent year on year.

Steady export growth in both traditional and emerging markets

Home textile exports in both traditional and emerging markets grew steadily from January to November 2018. The top four home textile export markets included the United States, the European Union, Japan and ASEAN. China’s exports to its traditional markets of the US, Europe and Japan increased by 10.80 per cent, 8.13 per cent and 5.35 percent respectively. Among these, exports to the United States had the largest volume and the highest growth rate.

China’s carpets exports increased 11.8 per cent to $2.728 billion from January to November 2018. Among them, exports to the US increased 21.4 per cent to $649 million, to the EU by 9.44 per cent to $ 471 million; Japan BY 7.78 per cent to $335 million and to the ASEAN countries by approximately 4.2 per cent year on year.

Increase in industry efficiency

The efficiency of home textile industry also increased significantly from January to November 2018. Around 1,861 home textile enterprises above designated size achieved a total profit of 10.576 billion yuan, a year-on-year increase of 11.80 per cent. The profit margin was 5.48 per cent. The 202 surveyed home textile enterprises achieved profit of 6.303 billion yuan from January to November, an increase of 16.03 per cent year on year. The surveyed 13 industrial clusters realised a profit of 15.318 billion yuan, a year-on-year increase of 9.96 per cent.

From January to November 2018, 1,861 home textile enterprises above designated size achieved a total cost of 167.464 billion yuan, a year-on-year increase of 3.63%. The accumulated management cost was 7.097 billion yuan, a year-on-year increase of 8.91 per cent; the accumulated financial expenses was 1.196 billion yuan, a year-on-year decrease of 28.03 per cent.

Overall, the home textile industry from January to November 2018 achieved a stable growth. The export market also maintained steady growth and the industry’s efficiency increased significantly.

 
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