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Friday, February 23, 2024

Chinese imports of spandex soared 85.6% in 2023

Chinese imports of spandex in 2023 soared significantly by 22,112 tons or 85.6 percent over 2022 to 47,900 tons, and the average import price was $5.36 per kg, a year-on-year drop of $3.36 per kg.

Spandex imports from just four countries accounted for 97.5 percent of all imports, of which those from Vietnam climbed to 36,600 tons, up a massive 173 percent and 80 percent import share.

Import volumes from Singapore reached 4,333 tons in the reporting year, growing by 3.1 percent compared to its earlier year, while imports from Japan increased 12.3 percent to 2,637 tons.

“However, spandex import volumes from South Korea declined 20 percent year on year to 3,072 tons in 2023,” media reports stated.

Among central spandex-importing Chinese provinces, the import share of Zhejiang, Guangdong, and Jiangsu provinces accounted for 95.3 percent, growing by 1.2 percent yearly.

In Zhejiang Province alone, Spandex’s import volume totaled 31,200 tons in 2023, increasing by 166 percent over 2022, and its import share was a massive 65 percent.

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