In 2022, the changes of a century and the epidemic of the century are intertwined, the geopolitical situation is turbulent, and the downside risk of the world economy has increased. The domestic economy has been repeatedly impacted by multiple unexpected factors such as frequent epidemics and extreme high temperature weather. Demand has shrunk, supply shocks, and expectations have The triple pressure of weakening continues to evolve, and the complexity, severity, and uncertainty of the development environment of the printing and dyeing industry have increased significantly. Throughout the year, the production and efficiency indicators of the printing and dyeing industry showed a trend of fluctuation and decline, and exports performed well. The exports of major printing and dyeing products maintained growth, but the export growth rate gradually declined. Overall, the production and operation pressure faced by industry enterprises in 2022 has increased significantly.
China Printing and Dyeing Industry Association丨Editor
Terminal demand is still insufficient
Production decline deepens further
According to data from the National Bureau of Statistics, from January to December 2022, the output of printed and dyed fabrics by enterprises above designated size in the printing and dyeing industry was 55.622 billion meters, a year-on-year decrease of 7.52%, and the decline was 0.47 percentage points larger than that from January to November. Looking at the whole year, in the first quarter, the industry’s production situation was basically good, and the output of printing and dyeing fabrics maintained positive growth. Starting from the second quarter, factors such as the intensification of the conflict between Russia and Ukraine, accelerated tightening of monetary policies in Europe and the United States, and frequent domestic epidemics have had a greater impact on the end consumer market. Due to the impact of the epidemic, the growth rate of printed and dyed fabric output fell quarter by quarter. Insufficient total demand is a prominent problem faced by current industry production. In 2022, my country’s total retail sales of consumer goods fell by 0.2%, of which the retail sales of clothing, shoes, hats, and knitted textiles above designated size fell by 6.5%, 19.2 percentage points lower than the same period in 2021.
Figure 1 Output and growth rate of printed and dyed fabrics by enterprises above designated size in 2022
Operational efficiency continues to slow down
Economic benefits decline further
According to data from the National Bureau of Statistics, from January to December 2022, the turnover rate of finished products, accounts receivable turnover rate and total asset turnover rate of printing and dyeing enterprises above designated size decreased by 3.30%, 0.61% and 0.72% respectively year-on-year. The monthly average expanded, reflecting a further slowdown in enterprises’ efficiency in connecting production and sales and capital turnover efficiency in December. In terms of economic benefits, the industry has shown a situation of “increasing revenue without increasing profits”. From January to December, printing and dyeing enterprises above designated size achieved operating income of 312.526 billion yuan, a year-on-year increase of 4.42%, a decrease of 1.55 percentage points from January to November; the total profit was 13.270 billion yuan. yuan, a year-on-year decrease of 16.49%, and the decline expanded by 6.83 percentage points from January to November; the sales profit margin was 4.25%, a year-on-year decrease of 1.06 percentage points. The industry’s losses have further expanded, and the total losses of loss-making enterprises have increased significantly. From January to December, the number of 1,716 printing and dyeing enterprises above designated size was 532, with a loss area of 31.00%, an expansion of 12.08 percentage points compared with the same period in 2021; the total losses of loss-making enterprises was 35.08 billion, a significant year-on-year increase of 89.90%.
In 2022, affected by the international turmoil, global commodity prices continue to fluctuate at high levels, and the printing and dyeing industry is under greater pressure on the cost side. Data from the National Bureau of Statistics show that in 2022, my country’s energy prices will rise by 11.2%, raw material prices will rise by 10.3%, and the sharp rise in production means prices coupled with insufficient domestic demand will significantly squeeze industry profit margins and significantly increase corporate operating pressure.
Figure 2 Changes in main economic indicators of printing and dyeing enterprises above designated size in 2022
Exports maintain growth
Growth rate gradually slows down
According to China Customs statistics, from January to December 2022, my country’s export volume of eight major categories of printing and dyeing products was 29.228 billion meters, a year-on-year increase of 5.31%; the export value was US$31.346 billion, a year-on-year increase of 9.06%; the average export unit price was US$1.05/meter, a year-on-year increase 3.56%. In 2022, my country’s exports of eight major categories of printing and dyeing products hit a new high since 2011. Among them, the export of synthetic filament fabrics was 21.457 billion meters, a year-on-year increase of 11.17%, which contributed greatly to the export growth of the printing and dyeing industry. From the perspective of growth rate, the growth rate of direct exports of printing and dyeing products showed a trend of “high at first and then low”. In the first half of the year, the overall growth rate was maintained at a high rate. The growth rate began to gradually decline in July and reached the low point of the year in December, reflecting the international Market demand is gradually shrinking.
Figure 3 my country’s exports of eight major categories of printing and dyeing products since 2022
From the perspective of the export market, ASEAN is still the largest export market for my country’s eight major categories of printing and dyeing products. In 2022, my country’s exports of eight major categories of printing and dyeing products to ASEAN were 6.907 billion meters, a year-on-year increase of 14.06%, accounting for 23.63% of total exports, accounting for 2021. An increase of 2.18 percentage points. Unlike the overall export of printing and dyeing products, which has seen both volume and price rise, my country’s printing and dyeing industry’s exports to ASEAN in 2022 have shown a trend of “volume rising and price falling”, with the export unit price decreasing by 1.47% year-on-year, mainly due to the decline in export unit prices to Vietnam and the Philippines. From January to December, my country’s exports of eight major categories of printing and dyeing products to Vietnam and the Philippines accounted for 43.29% of total exports to ASEAN, and the export unit prices fell by 4.22% and 11.11% respectively.
Overall, 2022 will be a year full of tests for the printing and dyeing industry. Faced with the impact of many unexpected factors, the industry maintains strategic focus and strives to overcome difficulties and challenges, demonstrating the resilience and vitality of industry development. Looking forward to 2023, the industryThe upcoming domestic and international situations will present new changes. Internationally, the slowdown in global economic growth has put greater pressure on the foreign trade exports of my country’s printing and dyeing industry. Against the background of a high base in 2022, the export scale will show a shrinking trend in 2023; domestically, as my country’s epidemic prevention and control enters a new era In this stage, normal production and living order is restored and offline consumption scenarios are accelerated. With the support of national policies and measures to stabilize the economy and promote consumption, residents’ consumer confidence will be improved, and the domestic consumer market is expected to gradually recover. Consumption will become the key to driving economic growth in the industry. strength. In the post-epidemic era, the public’s demand for green consumption, healthy consumption, and cultural consumption will be more active, and the endogenous driving force for industry transformation and upgrading will be further enhanced. Enterprises in the industry must follow the trend of the times, adhere to market demand as the guide, focus on technological innovation and product research and development, and serve the people’s high-quality life with high-quality development of the industry.
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