Analysis of the economic operation of the industrial textiles industry in the first three quarters of 2016
Abstract: At present, my country’s industrial textile industry takes technological innovation as its core, increases product development and business expansion, strengthens corporate management, reduces costs and improves efficiency, overcomes various unfavorable factors, and maintains steady growth in the first three quarters. According to data from the National Bureau of Statistics, the industrial added value of enterprises above designated size in my country’s industrial textile industry increased by 10% in the first three quarters, with main business income and total profit increasing by 6.83% and 8.59% respectively. Fixed asset investment
Key words:
At present, my country’s industrial textiles industry takes technological innovation as its core and increases product development and business expansion. By strengthening corporate management, reducing costs and improving efficiency, we overcame various unfavorable factors and maintained steady growth in the first three quarters. According to data from the National Bureau of Statistics, the industrial added value of enterprises above designated size in my country’s industrial textiles industry increased by 10% in the first three quarters, main business income and total profits increased by 6.83% and 8.59% respectively, and the amount of fixed asset investment was basically the same as last year; industry Exports and imports fell by 3.42% and 4.55% respectively. According to the association’s survey of member companies, the industry’s prosperity index in the first three quarters was 75.4, an increase of 3 percentage points from the first half of the year and basically the same as the same period last year.
The output of main products has grown steadily
According to the association’s research, the industry’s demand index and production index distribution in the third quarter were 64.8 and 70.3, which were a certain improvement compared with the same period last year and the first half of this year. The output of nonwoven fabrics and cord fabrics of my country’s largest enterprises were 4.178 million tons and 629,000 tons respectively, a year-on-year increase of 6.39% and 8.2% respectively (see Figure 1), and the export volume growth rate of these two products during the same period was as high as 15% and 13.5%. The export volume of other major products also increased steadily. The export volume of coated fabrics increased by 6.22%, the export volume of packaging textiles increased by 18.02%, and the export volume of airbags increased by 24.44%. However, the export volume of some traditional products has declined to varying degrees. For example, the export volume of safety protection textiles has dropped by 4.54%, canvas has dropped by nearly 11%, and the export volume of ordinary cord products has also dropped by nearly 9%. Therefore, overall, the demand for industrial textiles in my country continues to grow steadily, but the adjustment of the demand structure has caused the output of some products to decline.
Industry investment slows down
In the first three quarters, the fixed asset investment of enterprises above designated size in the industry was 49.37 billion yuan, a slight increase of only 0.51% year-on-year, and the growth rate dropped further compared with the first half of the year (see Figure 2). The decline in investment speed is closely related to the general environment of declining investment speed in the entire industry. It is conducive to the industry gradually digesting the rapid growth of production capacity in previous years, helping the industry to adjust and optimize the supply structure, and has a positive effect on the sustainable development of the industry. In terms of fields, investment in nonwovens still maintained a growth of 5.6%, investment in ropes and cables increased slightly by 1.48%, while investment in textile belts, cord fabrics, and sails dropped significantly by about 10%.
Due to the decline in investment growth in the industry, the growth rate of assets and liabilities in the industry also fell year-on-year, with the asset-liability ratio decreasing by 1 percentage point and interest expenses decreasing by 9%.
Economic benefits continue to improve
According to data from the National Bureau of Statistics, the main business income and total profits of enterprises above designated size in the industry in the first three quarters were 225.28 billion yuan and 13.35 billion yuan respectively, a year-on-year increase of 6.83% and 8.59% respectively. , although the growth rate has decreased compared with last year, it is still in the medium to high growth range. The average profit rate of the industry is 5.93%, a year-on-year increase of 0.14 percentage points; the industry’s loss rate is 10.53%, and the loss of loss-making enterprises is 300 million yuan, a year-on-year decrease of 25.57%.
In 2011, the growth rate of the main business income and total profit of the industrial textile industry was around 30%. After a relatively large decline in 2012, the growth rate of total profit increased within a period of time. have remained stable and both are higher than the revenue growth rate. However, the difference in the growth rates of the two indicators has narrowed in the third quarter of this year (see Figure 3). On the one hand, the slowdown in revenue growth is due to lower raw material prices and fierce market competition, which has led to lower product sales prices. On the other hand, the demand in some areas of the industry has gradually become saturated as the industry matures. From the perspective of profit structure, the industry’s gross profit margin and operating profit margin both increased in the third quarter.
Looking at different industries, the main business income and total profit of nonwovens increased by 9.45% and 7.22% respectively, with a profit margin of 5.89%. The losses of loss-making enterprises fell by 28.88%; nonwovens The growth rate of total profit of cloth is lower than that of main business income.� showed the opposite trend. Only the export volume of sail textiles and safety protection textiles decreased slightly, while the export volume of packaging textiles, nonwoven fabrics and transportation textiles increased significantly by 18.02% and 15.04%. and 14.94%, indicating that the international market’s demand for Chinese goods is still very strong (see Table 1). Among the main export products, the prices of nonwovens and transportation textiles have basically remained stable, while the export prices of packaging textiles, sail textiles and cord (cable) textiles have all dropped by more than 10%. The main factor for the decline in my country’s industrial textile exports is the decline in product prices. On the one hand, the price decline is related to the low prices of raw materials, and on the other hand, it is related to the exchange rate changes between major currencies.
2. Main markets
In the first three quarters, my country’s industrial textile industry’s exports to Asia, the European Union and North America all declined to varying degrees, but exports to non-EU countries in Europe increased by 3.7%.
Looking at countries and regions, the exports of the top 10 countries and regions account for more than 50% of my country’s industry exports. Among these 10 countries and regions, Japan is the second largest overseas market for my country’s industrial textiles, with exports increasing by 1.57%. In recent years, my country’s exports to Vietnam have continued to grow. Vietnam has surpassed developed countries to become the third largest market in our industry, with a growth rate of 4.27% in the first three quarters; the Philippines is the ninth largest market, with exports increasing by 8.89%. Other Among major markets, exports to South Korea, India, Germany, the United Kingdom and Indonesia all decreased slightly. The United States is my country’s largest export market and has historically been the market with the strongest growth. However, exports to the United States have declined for the first time since 2016, with a decrease of 0.42% in the first quarter, a decrease of 2.96% in the first half of the year, and a decrease of 3.57% in the first three quarters. % (see Table 2).
Among the export products to Vietnam and the Philippines, the export value of coated fabrics, nonwoven fabrics, synthetic leather and base fabrics, diapers and sanitary napkins accounted for 60% of the total, of which The export value of nonwovens, diapers and sanitary napkins all increased by more than 12%; however, the export value of coated fabrics was basically the same as the same period last year, and the export value of synthetic leather and base fabrics fell by 7%. my country’s nonwovens industry has strong advantages in countries such as Vietnam. As the incomes of these countries increase and infrastructure construction accelerates, there will be greater room for growth in the future. In addition, the export growth rate of agricultural nets and packaging textiles to the above two countries is also very fast.
3. Import
In the first three quarters, my country imported US$4.62 billion in industrial textiles, a year-on-year decrease of 4.55%. In terms of varieties, the import value of baby diapers and sanitary napkins was US$917 million. They are the industrial textiles with the largest import volume in my country. The import volume was basically the same as the same period last year, and the trend of substantial growth was under control. The import value of nonwovens and industrial coated fabrics was US$614 million and US$592 million respectively, a year-on-year decrease of 6% and 9.19% respectively. The import of airbags has experienced strong growth, with imports of US$474 million, an increase of 14.17%. During the same period, the import of automobile seat belts also increased significantly by 28.8%. The substantial growth in the import of textiles for transportation is closely related to the demand of my country’s automobile market this year. In the first three quarters, China’s passenger car production reached 19.42 million units, a year-on-year increase of 13.25%.
From the perspective of importing countries and regions, Japan is the largest source of imports of industrial textiles in my country. The import volume from Japan in the first three quarters was US$1.368 billion, of which diapers and sanitary napkins were Accounting for 53%; my country’s Taiwan is the second largest source of imports, with an import volume of US$532 million. South Korea, the United States and Germany rank third to fifth respectively, with imports from these three countries being US$512 million, US$375 million and US$375 million respectively. $237 million.
Summary
Despite facing complex domestic and foreign environments, my country’s industrial textiles have maintained stable operation in the first three quarters, with major economic indicators growing rapidly and economic benefits stabilizing at a relatively good level. However, production The growth rates of , income, profits, investment and exports have all declined to varying degrees, and the growth of the industry faces many challenges. Looking at the whole year, the industry will continue the trend in the third quarter, with production and main business income maintaining medium-to-high growth, fixed asset investment basically remaining at the same level as last year, and exports declining slightly.
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