China Net Fabric Export Price in June 2023
The net fabric price in June 2023 was $6,699 per tonne (FOB, China), up 7.5% from the previous month. The export price did, however, experience a minor decline throughout the time period under consideration. With a 31% increase from the previous month, February 2023 saw the fastest growth rate. The export price consequently rose to its highest level of $9,283 per tonne. The average export prices remained down from March 2023 to June 2023.
The biggest export markets’ average pricing varied significantly from one another. Saudi Arabia had the highest price in June 2023 ($17,952 per tonne), while exports to Mexico had some of the lowest average prices ($3,425 per tonne).
The price growth for supplies going to Bangladesh was the most noticeable from June 2022 to June 2023 (+2.4%), while the price growth for the other key destinations was more moderate.
China Net Fabric Exports
China’s net fabric exports decreased to 3.9K tonnes in June 2023, a -13.7% drop from May 2023 levels. Exports saw a mostly flat trend pattern. When exports climbed by 100% from the previous month in March 2023, the growth rate was at its fastest.
Net fabric exports decreased in value to $26M in June 2023 (IndexBox estimates). Exports had a small decline throughout the time period under consideration. The month of March 2023 saw the highest growth rate, with a month-over-month increase of 76%.
China Net Fabric Exports by Country
China’s largest net fabric export market, accounting for 24% of all exports, was Vietnam (928 tonnes). In addition, Vietnam received four times more net fabric exports than Nigeria, the second-largest recipient country (219 tonnes). With a 5.3% proportion of the overall exports, Brazil (209 tonnes) was third.
The average monthly growth rate of volume to Vietnam from June 2022 to June 2023 was +1.6%. Nigeria (+9.0% per month) and Brazil (+3.4% per month) were the other top export destinations with the highest average monthly rates of increase.
In value terms, Vietnam ($4.5M) remains the key foreign market for net fabric exports from China, comprising 17% of total exports. The second position in the ranking was taken by Nigeria ($1.5M), with a 5.8% share of total exports. It was followed by Saudi Arabia, with a 5.8% share.
From June 2022 to June 2023, the average monthly growth rate of value to Vietnam was relatively modest. Exports to the other major destinations recorded the following average monthly rates of exports growth: Nigeria (+10.0% per month) and Saudi Arabia (+6.3% per month).
