From January to November 2024, the global economy showed a stable but weak growth trend. Inflation declined, but there are still uncertainties; international trade showed signs of recovery but faced many challenges. Emerging economies showed a certain degree of resilience. China’s domestic industrial output, fixed-asset investment, and consumer market all performed well. Although some of the indicators fluctuated, China’s overall economy performed well from January to November 2024. The economic operation of China’s technical textiles industry showed progressive development, and the industry’s industrial value-added maintained year-on-year growth.

According to data from the National Bureau of Statistics, the output of nonwoven enterprises above designated size increased by 4.7% year-on-year from January to November, while that of cord fabric (in tyres) surged by 7.6% year-on-year. The output growth rates have all been revised back.

Figure: Key Economic Indicators of China’s Technical Textile Industry in Jan.-Nov., 2024

Source: National Bureau of Statistics

Table 1: Growth Rate of Major Economic Indicators of China’s Technical Textile Industry in Jan.-Nov., 2024 (Above Designated Size)

Source: National Bureau of Statistics

According to China Customs data on international trade, China exported US$37.43 billion worth of technical textiles in January-November 2024, up by 5.9% year-on-year, while imports amounted to US$4.61 billion, down by 3.6% year-on-year.

Table 2: The Exports of Main Products in China’s Technical Textile Industry in Jan.-Nov., 2024

Source: China Customs

Source: CHINA TEXTILE LEADER Express