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Several big textile exporting countries in Asia enter "winter" almost at the same time
Time: 2020-12-5 15:52:31 Source:绿凯思科GETRECYCLING Author:GET营销中心 Hits:237

Many textile export countries encounter order crisis! Recently, the return of garment orders to China has become the focus of attention at home and abroad. Since September, many large-scale export-oriented textile enterprises in India have been unable to guarantee normal delivery due to the epidemic situation, while European and American retailers have transferred a number of orders originally produced in India to China in order to ensure that supplies in the Thanksgiving and Christmas seasons will not be affected.

 

Not only India, but also Vietnam, Myanmar, Sri Lanka, Bangladesh and other countries have entered the "winter" almost at the same time

 

01 India: "no group" or acceleration of textile and garment order outflow

 

Among the 15 countries that jointly signed the RCEP agreement, India, as one of the founding countries, did not choose to join. Even at the call of the rest of the agreement countries, relevant Indian spokesmen still said that "there are important issues that have not yet been resolved", so they will not consider joining the agreement for the time being.

 

 

Previously, due to the impact of the epidemic, the textile orders of Indian factories returned to China, which solved the urgent needs of some domestic garment and textile foreign trade factories. With the signing of RCEP agreement and the reduction of tariff barriers, the trade between the 15 countries signing the contract will be closer than before, which will further promote the regional trade, among which textile and clothing will benefit the most.

 

Industry insiders said that on the basis of mutual benefit, some textile order factories in India will lose orders from the agreement countries. With this agreement, more overseas textile orders may flow to factories in China in the future.

 

02 Vietnam: restricted by imported fabrics, annual export target is hopeless

 

Vietnam's "investment daily" reported recently that the latest report submitted by the Ministry of industry and trade of Vietnam to the National Assembly shows that the annual export volume of the textile and garment industry is nearly 40 billion US dollars, and it needs 10 billion meters of cloth. However, the domestic fabric production capacity is only 2.3 billion meters, and the self-sufficiency rate is about 25%. Most of the fabrics are imported from China, Taiwan and South Korea. The domestic garment processing industry only stays in the sewing link of the industrial chain Because of the low added value, it is difficult to meet the origin standard stipulated in the Vietnam Europe free trade agreement, so it can not fully enjoy the benefits brought by the Vietnam Europe free trade agreement.

 

As South Korea has signed a free trade agreement with the European Union, garment enterprises can only import fabrics from South Korea if they want to benefit from the trans European Free Trade Agreement. However, only 15.2% of fabrics are imported from South Korea, 54.9% from China and 12.1% from Taiwan.

 

The main reason affecting the domestic fabric production capacity is that the supporting industries such as cotton, yarn, dyeing and finishing can not keep up with the demand of garment processing, especially the restriction of environmental protection department on the development of dyeing and finishing industry, which seriously restricts the fabric production. At the same time, it needs huge investment to develop cloth production from the source. To solve the 8 billion meter cloth production gap, it needs to invest 30 billion US dollars, which is the bottleneck restricting the fabric production.

 

 

In addition, Vietnam's textile and garment exports are expected to reach US $24.76 billion in the first 10 months, down 9.3% year-on-year, according to Vietnam's "industry and trade electronic news". It is estimated that the annual export will be 33-35 billion US dollars, down 10% year on year. Even if the textile and garment export market is recovering, it is still difficult to achieve the target set at the beginning of the year.

 

Novel coronavirus pneumonia is the most serious industry in Vietnam. Novel coronavirus pneumonia has caused China's export difficulties and disrupted imports of raw materials from Vietnam, the Vietnam textile and Apparel Association said.

 

Since March this year, demand in Europe and the United States has declined sharply, leading to the bleak export of Vietnam's textile and clothing. In the first quarter, the export volume decreased by 2%, while that in the second quarter decreased by 27%. Although it improved slightly in the third quarter, it is still facing difficulties. It is estimated that Vietnam's textile and clothing exports will reach 35 billion US dollars this year, a significant decrease of 10% compared with the same period last year.

 

Vietnam's Ministry of industry and Trade said that due to the shrinking consumer market, textile and garment enterprises have adjusted their product mix from traditional products to fast adaptive products, such as changing from high-end suits and high-grade shirts to work clothes, knitted garments and traditional shirts, so as to maintain production and business activities.

 

03 Bangladesh: the second wave of European and American epidemic intensifies the order crisis

 

According to Bangladesh's "Daily Star" on November 16, profits of most garment listed companies in Bangladesh fell from July to September due to the decline of domestic and foreign demand during the outbreak of new coronavirus. Among the 56 textile and garment companies listed on the Dhaka stock exchange, 39 have issued their first quarter financial reports. Among them, 15 companies reported lower profits than the same period last year. According to the data of Bangladesh Export Promotion Bureau, the export revenue of Bangladesh's textile industry decreased by 5.78% to 3.88 billion US dollars from July to September.

 

Covid's second wave of panic weakens import orders! Bangladesh's import orders fell nearly 14% in October as garment exporters cut back on textile purchases in the second wave of coronavirus in the United States and Europe.

 

According to the latest data from the central bank, the amount of L / C opened in October fell to $3.83 billion from $4.43 billion a month ago. Similarly, in value terms, the settlement of letters of credit (commonly known as actual imports) fell by more than 10% from $3.71 billion in October to $3.34 billion in October.

 

A senior official of the Bank of Bangladesh (BB) said in a talk with Fuyu that the country's overall imports fell again as a second wave of coronavirus infection swept through the United States and European countries, which reduced demand for clothing (RMG) products in Bangladesh. Moreover, the central bank governor attributed the recession to an unexpected slowdown in the global economy from the pandemic.

 

According to BB data, the opening volume of import letters of credit for textile back-to-back imports fell by more than 21% to $4313.4 million in October from $5467 million in September 2020.

 

After analyzing the data for the past eight months, it was found that the downward trend in imports started in April this year after the outbreak of the coronavirus in Bangladesh.

 

After the overall business activities were restarted nationwide, imports increased in June, but began to decline again from July 2020. The downward trend in imports continued into August.

 

RMG entrepreneurs pay close attention to the overall situation because they are worried about the outbreak of a new round of covid-19 pandemic in western countries, Bangladesh's main export destination.

 

"Supply chain disruption in the clothing and apparel industry continues due to the continued covid-19 pandemic," Chaudhry said

 

On the other hand, import orders for raw cotton increased by nearly 20% to $237.1 million from $194.2 million a month ago, while the opening of letters of credit for capital machines increased from $409.8 million to $448.8 million.

 

04 Sri Lanka: export drops 20% year on year

 

Sri Lanka's clothing industry has become a victim of the new epidemic situation. In the first nine months of this year, Sri Lanka's clothing and textile exports fell by 21.97% to $3.1 billion, the lowest level in five years, with the highest record of $3.9 billion in 2019, the daily Financial Times reported.

 

According to jaaf, in the first nine months of this year, Sri Lanka's exports of clothing and textiles to the United States decreased by 22.15% to US $1.4 billion; exports to the EU fell by 21.36% to US $1.3 billion; exports to other countries / regions fell by 23.25% to US $400 million.

 

05 Myanmar: insufficient supply of raw materials

 

Myanmar's Global Star News reported that according to the statistics of Myanmar's Ministry of Commerce, the export of ready-made clothing industry in fiscal year 2019 / 20 reached 4.28 billion US dollars, a decline of 6.95% compared with the same period of last year of 4.6 billion US dollars.

 

Myanmar's garment industry exports to EU countries enjoy preferential tariffs, so it is the main traditional export project, accounting for about 30% of the total export amount. This year, due to the impact of the new crown epidemic, the import of garment raw materials was blocked, the international market demand slowed down and orders were taken. As a result, some garment factories were closed and thousands of employees were unemployed.

 

In order to avoid the shortage of raw materials due to the impact of the epidemic on international traffic, experts suggest that the government and non-governmental organizations should cooperate to establish a complete supply chain of spinning, weaving, dyeing and finishing, sewing and manufacturing in garment industry.

 

06 Jordan: partial conversion

 

Petra news agency reported recently that Jordan's garment and leather exports in the first nine months of this year amounted to 899 million (about 1.27 billion US dollars), down 15% year on year. In the fourth quarter of this year, industrial exports are expected to worsen, with a decrease of 25%, which is expected to gradually return to normal in early 2021. At present, some clothing and leather enterprises in Jordan have turned to the production of masks, protective clothing and protective shoes to meet local needs and create jobs. The export scale of the industry reaches 550 million US dollars and has the potential to create 33000 jobs.

 

"Jordan Times" reported that weekend sales accounted for 50% of Jordan's total clothing sales, winter sales preparations began in September, but now 90% of goods are stacked in warehouses. Clothing retail industry is stagnant, and businesses are suffering from serious losses. We should take immediate action to change this uncertain situation.

 

In order to increase cash flow and make up for employees' wages, water and electricity expenses and costs, it is expected that businesses will provide discount prices in this sales season, resulting in fierce market competition. At present, Jordan's clothing retail industry has about 11000 stores, accounting for 60% of the main commercial centers. The main clothing importing countries are China (accounting for more than 50%), Turkey, India, Bangladesh, Egypt and European countries.

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