2022 polyester yarn exports hit a new high – ChinaTexnet.com
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2022 polyester yarn exports hit a new high

2023-02-08 08:25:33 CCFGroup

China’s export of polyester yarn in 2022 reached a new high, and was the highest in nearly seven years since 2016. The total export of polyester yarn in 2022 was 535kt, up 15% year on year. Total imports were 2kt, down 49.9% year on year.

 

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From the perspective of monthly export, except for February, which was affected by the Spring Festival holiday, the export in rest months all passed 40kt. The export volume in January and May to July far exceeded the same period in previous years, yet it fell sharply since August. Nevertheless, the exports from August to October were still higher than the same period last year, with a year-on-year increase of more than 10%. The export of polyester yarn increased significantly in 2022 due to the following two main factors: First, a large number of orders were exported to Southeast Asia, South Asia and other markets from March to May when the epidemic in China was at its worst, thus the demand for polyester yarn increased. Second, due to the high price of cotton and the ban on Xinjiang cotton, chemical fiber had replaced cotton to some extent.

 

As for the proportion change of main export destinations of polyester single yarn in 2022, Egypt's share decreased significantly from 33% to 28%, Brazil moved up to the second place, and India increased from 7% to 13%, taking over the third place. Jordan made a big jump into the top five, while Pakistan dropped out of the top seven. Brazil, where sea freight have fallen sharply since 2005, saw a big advantage, while Egypt was experiencing short of dollars due to inflation.

 

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Chart Polyester single yarn export destinations in 2021 and 2022

 

As for the proportion change of main export destinations of polyester single yarn in 2022, Egypt decreased significantly from 33% to 28%, Brazil moved up to the second place, and India increased from 7% to 13%, taking over the third place. Jordan made a big jump into the top five, while Pakistan dropped out of the top seven. Brazil, where sea freight have fallen sharply since 2005, saw a big advantage, while Egypt was experiencing short of dollars due to inflation.

 

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Viewed form the data of past three years, the proportion of Egypt dropped sharply to less than 30%, but still ranked the first. India's export share increased compared to last year and the previous year, Iran and Pakistan dropped out of the top 5, Vietnam's share declined for years, Jordan grew rapidly, and Brazil returned to the second place this year after a sharp decline last year.

 

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Chart Polyester single yarn export origins in 2021 and 2022

 

In 2022, the ranking of export destinations of polyester yarn remained unchanged, and their proportion basically changed within 2%. Fujian Province still maintained its dominant position, Zhejiang and Jiangsu ranked second and third respectively.

 

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Chart Polyester ply yarn export destinations in 2021 and 2022

 

The ranking and share of polyester ply yarn saw little changes. Bangladesh, Egypt, Vietnam, Pakistan remained the top four. In addition to Bangladesh and Egypt, the share of other regions was generally below 10%.

 

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Chart Polyester ply yarn export origins in 2021 and 2022

 

 

In 2022, the export share of Hubei and Jiangxi increased meaningfully, mainly because Zhejiang's export from March to May was influenced by the epidemic in Yangtze River Delta area. While Hubei and Jiangxi saw few obstacles from the epidemic throughout the year. Correspondingly, the export share of Zhejiang Province declined significantly.

 

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In terms of imports, 2kt of polyester yarn was imported last year, about half of that in 2021.

 

In summary: It is not easy for polyester yarn export to achieve substantial growth in 2022 amid the global inflation and economic slowdown. In 2023, the global economy will be still under huge pressure, thus textile and apparel exports will face greater challenge and polyester yarn exports are expected to experience severe tests.

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