China's Cotton Yarn Imports Surge in 2023: Insights and Trends
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- Published: Thursday, 25 January 2024 04:49
China's textile industry witnessed a notable surge in cotton yarn imports throughout the year 2023, according to the latest customs data, signaling significant shifts in market dynamics and trade patterns. Here's a breakdown of key insights and trends
The import volume of cotton yarn in December 2023 remained steady at approximately 141,300 tons, mirroring the volume recorded in November.
Overall, China's cotton yarn imports for the entire year of 2023 totaled 1.5555 million tons, reflecting a remarkable increase of 41.9% compared to 2022. Monthly average import volume stood at around 129,600 tons, showcasing sustained demand throughout the year.
Vietnam emerged as the leading source of cotton yarn imports for China in 2023, with a total import volume of 667,300 tons, accounting for approximately 43% of the total imports. Pakistan secured the second position, contributing 17% of the imports, followed closely by India at 16%, which saw a significant increase compared to the previous year. Uzbekistan also experienced a notable rise in cotton yarn imports, totaling approximately 130,000 tons.
China's Import Cotton Yarn by Origin 2023
The cumulative import value of cotton yarn in China reached $4.067 billion in 2023, with an average import price of $2.61/kg. Import prices varied across regions, with Switzerland recording the highest average price, followed by Peru and Tunisia, while Bangladesh and Myanmar had the lowest average prices.
Uncombed single yarn 8-25s remained the largest import variety, although its proportion decreased from the previous year. There was a significant increase in the import volume of combed yarn, particularly single yarn 30-47s, indicating evolving consumer preferences. Coarse-count yarn continued to dominate China's cotton yarn imports, reflecting ongoing competition between imported and domestic yarn.
Zhejiang province retained its position as the top importer of cotton yarn, followed by a substantial increase in import volume in Fujian province. Import volumes in Guangdong and Shanghai provinces remained significant, while other regions witnessed varying import volumes.
Overall, China's cotton yarn imports in 2023 underscored dynamic shifts in trade patterns, with notable increases from key origins and changes in import structures. The sustained demand for cotton yarn imports reflects the evolving landscape of China's textile industry, influenced by both domestic and international factors. (Source CCF Group)