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Global Textile Newsglobal textile information
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Turkey has made an anti-circumvention final ruling on polyurethane nonwovens and artificial leather in China
On January 19, 2024, the Ministry of Turkey issued Announcement No. 2023 36 on polyurethane nonwovens products (tax code 5603.) with a weight of more than 150 grams per square meter originating in China14) and artificial leather weighing more than 150 grams per square meter (tax code 392113) made a final anti-circumvention ruling, ruling that the products originating in China were imported into Turkey through North Macedonia to avoid anti-dumping duties, and therefore decided to impose a penalty on North Macedonian polyurethane nonwovens weighing more than 150 grams per square meter (tariff code 5603.).14) and artificial leather weighing more than 150 grams per square meter (tax code 392113) Levy 1$9 anti-dumping duty on kilograms.
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From January to December 2023, Xinjiang exported 1075 textiles and clothing9.7 billion yuan
According to the statistics of Urumqi Customs, the export value of Xinjiang's textile yarns, fabrics and products from January to December 2023 was 1698.6 billion yuan, a year-on-year increase of 7402%；The export value of clothing and clothing accessories is 9061.1 billion yuan, a year-on-year increase of 2915%。From January to December 2023, the import value of textile yarns, fabrics and products in Xinjiang is 16.9 billion yuan, a year-on-year increase of 48254%；The import value of clothing and clothing accessories is 00.6 billion yuan, a year-on-year increase of 58974%。
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Fiji's exports of textile, clothing and footwear products are expected to decline
Fiji textiles, apparel and footwear products (TCF products) exports are expected to fall by 25% this year due to increased operating costs, among other reasons, the Fiji Times recently reported. The chairman of the TCF Product Council said that the industry is affected by the increasing cost of production due to technical labor losses, and exports are expected to fall by at least 25% in 2023-24. The increase in the minimum wage, the cost of training new workers and the tax on raw materials** are also important factors. In order to avoid losing customers, the related costs cannot be fully passed on to the market, which ultimately leads to a dilemma for Fiji's TCF products in the international market. Employment in the industry has fallen from 7,000 to 4,000, and product productivity and efficiency are declining.
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World Bank** China's economic growth continues to decelerate
Recently, the latest Global Economic Prospects report released by the World Bank predicts that the global economy will grow by 24%, the third consecutive year of slowing growth. China's economic growth is slowing and is expected to grow by 45%, which also weighs on the global outlook. This means that excluding the pandemic-affected years of 2020 and 2022, China's economic growth will be the slowest in more than 30 years this year.
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Latest! Maersk stopped booking in many places
On the 19th, Maersk's official website successively released two customer inquiries about the Gulf of Aden business in the Red Sea. The notice said that the situation in the Red Sea is very volatile, all available intelligence confirms that the security risk is still at a very high level, and due to the continuous deterioration of the situation in the Red Sea, it will be decided to stop accepting bookings to and from Berbera, Hodeida and Aden, effective immediately. Maersk said that for customers who have already booked space, it will pay attention to demand and go all out to ensure that customers' goods can be safely delivered to their destinations as soon as possible with reduced delays.
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The outlook for the global ** is less optimistic
According to the latest survey released by the World Economic Forum in Davos last week, most of the world's top economists ** said that the global economy is facing a year of sluggish growth prospects, and more than half of economists expect the global economy to weaken this year. Economists believe that geopolitical conflicts, tight financing conditions, and the devastating effects of artificial intelligence will all bring uncertainty to the global economy. The Director-General of the World Organization (WTO) said last week that she was not very optimistic about the global world in 2024 due to tensions in the Red Sea. She said the WTO** has become less optimistic as global economic growth has weakened, geopolitical tensions have worsened, and shipping in the Red Sea, the Suez Canal and the Panama Canal has been blocked. Before the outbreak of a new round of Palestinian-Israeli conflict in October last year, the WTO had a global growth rate of 08%, and this year it will grow by 33%。However, Okonjo-Iweala warned that future WTO forecasts for 2024** growth will be downward. She revealed that the WTO believes that the first made last year, that is, this year's commodity trade will grow by 33%, there are a lot of downside risks. Therefore, this year's **growth** will be revised in the future, but it will be announced for another month or so.
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The number of bankruptcies in Japan will increase significantly in 2023
The Tokyo Chamber of Commerce and Industry, a Japanese private enterprise credit research agency, recently released a report saying that the number of bankrupt companies with debts exceeding 10 million yen in Japan will increase by 35% to 8,690 in 2023 due to factors such as prices and labor costs. The total liabilities of bankrupt companies exceeded 2,402.6 billion yen.
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Bangladesh continues to invest in the denim export industry
Bangladesh has become the largest supplier of denim products in the European Union and the United States, with denim products worth nearly $5 billion to the world every year. Bangladesh has invested nearly Tk 250 billion in this field and built 42 modern factories with an annual production capacity of more than 900 million meters. According to **, the global denim market is expected to grow to $76.1 billion by 2026. Bangladesh enterprises are continuing to expand investment and increase production capacity in this field in order to occupy a larger share. According to the data, the total export value of Bangladesh's goods in 2023 will be 557800 million US dollars, of which, knitwear exports 265500 million US dollars, accounting for 47 percent of total exports6%, becoming Bangladesh's largest foreign exchange income in 2023**.
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China-ASEAN: China has been each other's largest partner for four consecutive years
According to the latest data from the General Administration of Customs, in 2023, China and ASEAN** will continue to maintain growth, with a scale of 6With 41 trillion yuan, ASEAN has maintained the status of China's largest partner for four consecutive years, and China has also been ASEAN's largest partner for many years. As of 2023, the amount of China and ASEAN** has increased by 16 in 20 years8 times, with a cumulative total two-way investment of more than 380 billion US dollars.
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It's officially in effect! From 9 February, China and Singapore will be exempt from visas
On the 25th, representatives of the People's Republic of China** and the Republic of Singapore** signed the "Agreement between the People's Republic of China** and the Republic of Singapore** on Mutual Visa Exemption for Ordinary Passport Holders" in Beijing. The agreement will officially enter into force on February 9, 2024 (Chinese New Year's Eve). At that time, holders of ordinary passports from both sides can enter each other's countries without a visa to engage in personal affairs such as tourism, family visits, and business, and stay for no more than 30 days.
The member companies of the China Textile Association have covered all provinces, municipalities and autonomous regions in the country and some countries in Southeast Asia, West Asia and the Middle East, with a total of more than 750,000+ service enterprise members, 560,000+ high-quality supply and demand resources, and more than 90,000 enterprise transactions;
China Textile Association is an invitation-based platform, based on the self-developed CCTA algorithm technology to update the world's latest and most complete textile and garment industry ** and purchase information in real time, for more information, please search for China Textile Association.
Edited by China Textile Association Qingqing.
* Information of the Association for the Promotion of Maritime Affairs, China Textile Association.
Operated by Hangzhou China Textile Association Information Technology***