In the first quarter of 2022, the demand for replenishment of overseas sewing equipment continued to release. The textile and garment processing export of Southeast Asian countries represented by Vietnam, India and Bangladesh recovered rapidly. The overall stable and good export situation continued the growth trend of China's sewing machinery export in the previous year. However, affected by many factors such as the rebound of overseas epidemic, the continuous conflict between Russia and Ukraine, and the escalation of global inflation, the growth rate of China's sewing machinery exports decreased significantly compared with that of the previous year.
According to the data of the General Administration of customs, the cumulative export volume of sewing machinery products in China from January to march was US $813 million, a year-on-year increase of 17.44%, and the growth rate slowed down by 15.68 percentage points compared with the end of last year. Among them, the export volume of industrial sewing machines was 1.27 million, with an export volume of 445 million US dollars, a year-on-year increase of 18.63% and 37.92% respectively.
In March, China's export of sewing machinery products was 278 million US dollars, with a year-on-year increase of 22.06% and a month on month increase of 45.85%, but it fell compared with the end of last year and the beginning of the year. Among them, the export volume of industrial sewing machines was 420000 units, with an export volume of US $156 million, a year-on-year increase of 19.22% and 39.08% respectively, and the export volume increased by 19.22% and 39.08% month on month respectively. It is worth noting that with the gradual relaxation of overseas epidemic prevention and control measures, the "housing economy" effect has decreased sharply, resulting in a sharp decline in the volume and value of China's domestic sewing machines by 30%.
In the first quarter of 2022, China's exports to the "the Belt and Road" market reached US $547million, a year-on-year increase of 28.04%, accounting for 67.24% of the industry's exports, an increase of 5.56 percentage points over the same period last year. Exports to the ASEAN market were 234 million US dollars, up 40.40% year-on-year, and exports to the South Asian market were 180 million US dollars, up 26.32% year-on-year; Exports to the West Asian market reached US $67 million, a year-on-year increase of 48.64%; Exports to the EU market amounted to 48 million US dollars, a year-on-year decrease of 9.36%; Exports to the East Asian market reached US $44 million, a year-on-year decrease of 11.57%, and exports to the Central Asian market reached US $22 million, a year-on-year increase of 29.91%.
By country, Vietnam and India were still the top two sewing equipment export markets in China in the first quarter. China's exports to Vietnam amounted to 96.55 million US dollars, a year-on-year increase of 17.79%, accounting for 11.87% of China's industrial exports; The export volume to India was 91.39 million US dollars, a year-on-year increase of 23.00%, accounting for 11.24% of China's industrial export volume; Bangladesh surpassed the United States to become China's third largest export market. In the first quarter, China's exports to Bangladesh amounted to US $42.54 million, a year-on-year increase of 40.94%, accounting for 5.23% of China's industrial exports. In addition, in the first quarter, China's exports to Pakistan, Singapore, Indonesia, Cambodia, Malaysia and other markets increased significantly year-on-year, while exports to Japan, Brazil and Russia decreased significantly year-on-year.
According to the latest data from the customs, the cumulative import volume of sewing machinery products in China from January to march was 259 million US dollars, a year-on-year increase of 7.55%. Among them, the import volume of industrial sewing machines was 11494, a year-on-year decrease of 3.05%, and the import volume was US $27.7 million, a year-on-year increase of 4.23%; The import volume of household sewing machines was 28560 units, with an import volume of US $2.06 million, a year-on-year increase of 65.55% and 19.38%; The import volume of equipment before and after sewing was 2535 units, a year-on-year decrease of 67.13%, and the import volume was US $210 million, a year-on-year increase of 11.56%.
In March, the import volume of sewing machinery products in China was 98.26 million US dollars, an increase of 28.03% year-on-year and 100.41% month on month. Among them, the import volume of industrial sewing machines was 4855 sets, with an import volume of 11.1 million US dollars, an increase of 7.20% and 13.08% respectively year-on-year, and the import volume value increased by 61.19% and 72.96% month on month respectively.
