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In Nov, the recovery of the sewing machinery industry in China has been further strengthened, in which case, the export has grown for 4 months on end, monthly industrial added value and profits of enterprises above the designated scale have successively increased for 3 months and 2 months respectively, and the decline of key economic indicators related to manufacture, sales, profits and others has been slowed down. It's worthy of note that although the business activities improve continuously, the pandemic still rages abroad and resurges sporadically at home. The sewing machinery industry is faced with challenges brought by the grave and complicated economic situations in China and even the world.
According to National Bureau of Statistics (NBS), the monthly industrial added value of sewing machinery manufacturers above the designated scale in China has grown at a positive rate for 3 months in succession since Sept., and secures a growth rate of 21.4% in Nov, which is 11.9% higher than previous month, and 14.4% higher than that of above-designated-scale industrial enterprises nationwide the same month. The growth rate of accumulated industrial added value of above-designated-scale sewing machinery manufacturers in Nov is -8.3%, which is 3.1% higher than that of Sept, and 9.3% higher than that of Q2, all of which prove that the manufacture activities resume steadily.
Growth of industrial added value accumulatively created by sewing machine manufacturers above designated scale over the past 3 years
Growth of monthly industrial added value created by enterprises above designated scale in 2020
According to NBS, 238 sewing machinery manufacturers above the designated scale have generated a revenue of 23.34 billion RMB, falling 7.24% compared with last year, but 2.51% higher than Sept and 10.52% higher than Q2; and they've earned a profit of 1.58 billion RMB, increasing 16.30% on year-on-year basis, and 14.86% higher than Sep; they secured a gross profit of 19.41%, which is 0.66% lower than last year; a profit margin of 6.77% in terms of revenue, which is 25.37% higher than previous year. In Nov alone, the revenue of above-designated-scale manufacturers has realized a growth rate of 15.12%.
Revenues of sewing machinery manufacturers above designated scale from Jan to Nov
Unveiled by China Customs, China has accumulatively exported sewing machineries worth of 2.10 billion USD, falling 6.74% than last year, but increasing 3.05% compared with last month, increasing 6.44% than Sep, and 15.16% higher than Q2. In particular, China has exported 3.29 million sets of industrial sewing machines, falling 7.51% than last year but rising 4.00% than Oct, and earned an export value of 0.93 billion USD, decreasing 16.82% than last year but increasing 3.31% than Oct.
In Nov, China has exported sewing machineries worth of 0.26 billion USD, growing 23.11% on year-on-year basis, increasing 10.72% than last month; the export value has grown at a year-on-year rate of more than 20% for 3 successive months since it first became positive in Aug. Particularly, China has exported 415,300 sets of industrial sewing machines worth of 0.12 billion USD; the export volume is 34.26% higher than last year and 4.14% higher than last month, and the export value is 17.11% higher than last year and 17.47% higher than last month.
China's monthly export value of sewing machinery
(Source: China Customs)
Year-on-year growth of monthly export value of China's sewing machinery industry in 2020
(Source: China Customs)
Export of sewing machinery in Nov, 2020
Shown by China Customs data, China has imported sewing machineries worth of 0.87 billion USD from January to November, increasing 17.45% on year-on-year basis, and 4.74% higher than Oct. To be specific, it has imported 34,600 sets of industrial sewing machines, 19.67% lower than last year, and generated an import value of 66.90 million USD, 32.18% lower than last year.
In Nov, China has imported sewing machineries worth of 0.10 billion USD, increasing 70.14% on year-on-year basis, and 48.12% higher than last month; to break it down, the import volume of industrial sewing machines is 3738 sets, 0.95% higher than last year, 35.43% higher than last month, and its import value is 8.90 million USD, 21.65% higher than last year, 33.26% than last month. During the same period, the import volume and value of household sewing machine has grown 160.58% and 190.92% respectively; the import volume and value of pre-sewing and finishing machineries, 44.60% and 91.40% respectively.
China's monthly import value of sewing machinery
(Source: China Customs)
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