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Saturday, February 24, 2024

Chinese spandex exports drop 2.7% between Jan & Oct

In the first ten months of the current year, Chinese spandex exports touched 59.9 kilo tons, a marginal drop of 1,651 tons or 2.7 percent yearly.

“In October 2023 alone, spandex exports hit 5,688 tons, up by a massive 30.6 percent from a year ago period, but down 5.7 percent month on month,” Chinese customs data-informed.

“In October, export unit price stood at $4.90 per kg, a marginal increase of $0.06 per kg over September 2023,” media reports quoted Chinese customs as saying.

When analyzing the data, it was revealed that overseas shipments of spandex continued to rise, albeit gradually, beginning from the first quarter of the ongoing year.

Chinese spandex was exported to 109 countries in 2023, with Turkey staying the top export market. Vietnam, Egypt, and South Korea followed Turkey, with all four countries accounting for 44.7 percent of overall spandex exports.

Exports to Turkey amounted to 10.3 kilo tons in the first ten months of the current year, declining by 4,283 tons or 29.3 percent year on year.

Vietnamese imports of spandex to Vietnam totaled 8,637 tons in the reporting period, rising by a massive 131 percent, while those to Egypt reached 4,208 tons, up by a significant 37.4 percent, with both rising year on year.

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