China’s textile industry has been greatly affected

With the spread of the epidemic around the world, China’s textile industry has been greatly affected. This year’s export of the textile industry is facing great challenges. Japan, South Korea, Italy and other places have begun to break out the epidemic, which has brought the foreign trade back to the bottom. In 2019, China’s textile export to Japan reached 19.9 billion US dollars, which is the fourth largest textile export place except the European Union, ASEAN and the United States. Although South Korea’s exports last year were not as large as Japan’s, it also had an export volume of US $2.74 billion. Today, South Korea and Japan are seriously affected by the epidemic, which has a greater impact on textile exports. The impact of this year’s epidemic on textile foreign trade is no less than that of last year’s Sino US trade war.

With the continuous improvement of the epidemic situation in our country, workers are returning to work one after another, both the opening rate of lace factories and the capacity of subsequent dyeing and finishing can keep up. According to the original judgment, when the domestic epidemic is under control, the overstocked demand in the foreign trade market will be released, and then the production capacity will come up, and there may be a big outbreak of orders. However, judging from the current situation, it seems that things have not developed in the expected direction. With the continuous deterioration of the epidemic situation abroad, although there is no large-scale cancellation of orders by customers at present, this kind of sign has appeared. As a textile lace factory, we are afraid to accept orders, and the risk is uncontrollable.