Amidst turbulence and increasing unpredictability, the global economy faced a challenging year in 2023. However, the Chinese economy maintained a recovery trend. From January to November 2023, the production of technical textiles in China remained stable. The main economic indicators have shown varying degrees of improvement since the third quarter of 2023. The industry’s exports are facing increased pressure due to weaker external demand.
According to data from the National Bureau of Statistics, the production of nonwoven enterprises above the designated size decreased by 3.4% year-on-year in the January to November period.
As for economic efficiency, technical textile enterprises above the designated size saw a decline of 5.8% in operating income and a decline of 25.5% in total profits from January to November.
Table 1: Growth Rate of Major Economic Indicators of China’s Technical Textile Industry, Jan. – Nov., 2023
(Above Designated Size)
Source: National Bureau of Statistics
Table 2: The Exports of Main Products in China’s Technical Textile Industry in Jan. – Nov., 2023
Source: China Customs
Source: CHINA TEXTILE LEADER Express
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