Currently, the ongoing inflationary pressure and heightened geopolitical tensions have greatly hindered the progress of the worldwide economic rebound. From January to October 2023, China’s technical textile sector experienced a steady recovery. However, the lack of demand remains a constraint, as evidenced by weak economic indicators and slow growth in foreign trade due to reduced external demand.

According to data from the National Bureau of Statistics, the production of nonwoven enterprises above the designated size decreased by 3.6% year-on-year in the January to October period.

As for economic efficiency, technical textile enterprises above the designated size saw a decline of 6.1% in operating income and a decline of 28.5% in total profits, 0.5 and 1.2 percentage points narrower than that of the first three quarters respectively. Additionally, the operating profit margin is at 3.5%, 0.1 percentage points higher than that of the first nine months.

Table 1: Growth Rate of Major Economic Indicators of China’s Technical Textile Industry, Jan. – Oct. 2023 (Above Designated Size)

Source: National Bureau of Statistics

Table 2: The Exports of Main Products in China’s Technical Textile Industry in the First Ten Months, 2023

Source: China Customs

Source: CHINA TEXTILE LEADER Express