China exports stay strong, trade surplus tops 80 billion dollars will also have an effect on the seamless boyshorts market

China exports stay strong; trade surplus tops 80 billion dollars will also have an effect on the seamless boyshorts market

Beijing -- China exports remained strong in October, a positive sign for an economy trying to cope with power shortages and the outbreak of COVID-19.

Exports totaled 300.2 billion dollars, up 27.1 percent year-on-year, the country customs agency said on Sunday. That down from 28.1 percent in September, but still healthy. Imports were 215.7 billion dollars, up 20.6 percent.

Imports and exports were much higher than a year ago when much of the world was in the throes of the COVID-19 pandemic, but there was widespread concern that economic headwinds were slowing growth. The world second-largest economy grew 4.9 percent in the three months to September, down from 7.9 percent in the previous quarter.

China trade surplus was 84.5bn dollars in October, up from 66.8bn dollars the previous month, the General Administration of Customs said. The surplus with the US fell slightly to 40.7bn dollars from 42bn dollars in September. For the European Union, the figure was 25.9 billion dollars.

China economy has been hit by tough covid-19-related government restrictions that have crimped domestic travel and consumer demand, as well as power shortages that have depressed factory production. Regulators are also cracking down on debt-laden property developers, slowing the market.

China export growth slowed in October but beat expectations thanks to strong global demand ahead of the winter holidays, easing power shortages and an improvement in supply chains severely disrupted by the coronavirus pandemic.

Premier Li Keqiang said on Tuesday that the government will take measures to support the industrial sector to counter renewed downward pressure on the economy.

Imports rose 20.6 percent in October from a year earlier, up from 17.6 percent in September but well below expectations of 25 percent growth.

Crude oil imports rose 56.3 percent year-on-year, up from 34.9 percent in September, while coal imports rose 292 percent year-on-year, accelerating from 234 percent in September, as the global energy crisis and economic recovery after the COVID-19 pandemic pushed up commodity prices, the data showed.

China trade surplus hit a record high of 84.54 billion dollars last month. It was also above survey forecasts of 65.55 billion dollars and a surplus of 66.76 billion dollars in September.

The world second-largest economy grew 4.9 percent in the July-September quarter from a year earlier, its slowest pace since the third quarter of last year.

China trade surplus with the United States was 40.75 billion dollars in October, down from 42 billion dollars in September, according to Reuters calculations based on customs data.

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Industry overview of the seamless boyshorts

Compared with woven clothing, knitted clothing has the characteristics of relaxed and comfortable, free movement, soft and close-fitting, and no sense of bondage, accounting for nearly 2/3 of the daily clothing consumption. The traditional knitting process requires the stitching of the knitted piece, but the thickness and seam mark of the stitching will affect the comfort and aesthetics of the knitted garment, especially the tight and corset knitted garment. In order to solve the discomfort and appearance destruction caused by the seamless boyshorts suture process for tight-fitting and corset knitted garments (main underwear at that time), seamless knitting was born.

Seamless knitting, also known as "three-dimensional one-time molding knitting technology", its production process is based on the digital model of human body curve database and human physiological function requirements, relying on computer-aided design tools to complete style design, using industrial intelligent digital control technology, The yarn with "three-dimensional, one-piece" modeling structure directly from the industrial knitting machine into a seamless boyshorts clothing products, is a digital intelligent modern clothing production technology. In short, seamless knitting technology is the use of special seamless knitting equipment, the use of computer digital simulation function, in the form of three-dimensional production of one-time molding clothing, neck, waist, hip and other curves without suture, can be directly completed from yarn to clothing.

The market trend of the seamless boyshorts

With the continuous improvement of people living standards, people demand for underwear gradually increases, and so does the demand for seamless boyshorts. With the hot selling of seamless underwear products, the comprehensive and rapid development of seamless boyshorts will be driven.

Seamless underwear is a cylindrical product woven directly from the seamless underwear knitting machine. It is one-time molding underwear for the neck, waist and hip without seams. Compared with traditional knitted clothing, seamless underwear is no longer bound by the elasticity of knitwear caused by stitching, so it has higher comfort and fit. Different from traditional underwear, the pattern and style of seamless underwear are completed on the equipment at one time through the process design, with a rich variation. The pattern and style of the new can faster cope with the current rapidly changing market, and quickly attract the attention of consumers from the appearance. At present, seamless boyshorts seamless underwear accounts for about 11% of the global underwear market.

In terms of industry pattern, seamless underwear is similar to FMCG textiles such as cotton socks. China is currently the world largest exporter, with relatively mature production technology and a complete industrial chain, accounting for more than 60% of the world output, mainly in the middle and low-end capacity. Turkey, Vietnam, Sri Lanka, Italy and other countries also have production capacity. With the rising labor costs of seamless boyshorts, some seamless underwear manufacturers began to shift their production capacity to Vietnam and Indonesia.

The market price of seamless boyshorts

China seamless underwear exports account for about 70% of the world total, taking an absolute leading position. The main market of China seamless boyshorts exports is the United States (34%), followed by Japan (9%) and The United Kingdom (7%). In the first half of 2020, the export scale of China seamless underwear decreased by more than 30% year-on-year, mainly because the seamless apparel business is mainly concentrated in the European and American markets. In the first half of the year, Europe and the United States became the hardest hit area of the NOVEL coronavirus epidemic, and the end consumption of seamless boyshorts seamless apparel had a great impact, leading to a decrease in the number of orders of Chinese enterprises. In addition, the seamless underwear itself is highly related to sports scenes, and the demand for relevant products declines as consumers reduce outdoor activities due to the impact of the epidemic.

It can be seen that seamless boyshorts is still a "fresh" product in the eyes of most consumers in China, and the seamless underwear market has not really formed. In the future, with the continuous improvement of national living standards, people demand for sports underwear, body underwear and the seamless boyshorts will gradually increase and people will have a better understanding of their functions and characteristics. Once most consumers fully accept seamless underwear products, a huge market space will be revealed, and the price of the seamless boyshorts will also fluctuate greatly.

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