Sewing Machinery Industry Export Data Analysis in 2023
Because 2023 global economic slowdown, Europe and the United States and other developed markets such as clothing, shoes and hats and other consumer and import demand declined across the board, Vietnam, Cambodia and other ASEAN, South Asia, the main footwear and apparel production place orders sharply reduced the demand for sewing equipment contracted significantly, resulting in the industry's export value of the high level of decline, the total export value of China's sewing machinery products was 2.892 billion dollars, down 15.62% year-on-year, falling back to the level of early 2021.
1. Export overview
According to the data of General Administration of Customs, in 2023, China's cumulative export value of sewing machinery products amounted to 2.892 billion U.S. dollars, a year-on-year decline of 15.62%. Among them, the export volume of industrial sewing machines was 4.32 million units, with an export value of 1.3 billion U.S. dollars, a year-on-year decline of 13.75% and 25.73% respectively. The export volume of embroidery machines was 119,000 units, an increase of 51.59% year-on-year, and the export value was 493 million U.S. dollars, a year-on-year decline of 0.89%. In addition to household sewing machines, the industry's various types of industrial sewing machines and their parts and components exports showed a different range of decline.
2. Overseas export market situation
In 2023, regional markets, China's exports to the "Belt and Road" market of 1.88 billion U.S. dollars, a year-on-year decline of 17.64%, accounting for 65.16% of the industry's export value, the proportion of the same period last year fell by 1.60 percentage points; exports to the RCEP market of 730 million U.S. dollars, a year-on-year decline of 34.27%, accounting for industry The proportion of exports 25.25%, the proportion of the same period last year fell 7.17 percentage points; exports to the South Asian market of 633 million U.S. dollars, a year-on-year decline of 17.16%; exports to the ASEAN market of 588 million U.S. dollars, a year-on-year decline of 36.42%; exports to the West Asian market of 286 million U.S. dollars, a year-on-year drop of 11.98%; exports to the European Union market of 167 million U.S. dollars, a year-on-year decline of 8.16%; exports to the Central Asian market of 143 million U.S. dollars, an increase of 49.59%; exports to the East Asian market of 125 million U.S. dollars, a year-on-year decline of 25.44%.
3. Exports of our Deko Corporation
In 2023, it is expected that the impact of the epidemic will gradually weaken, the economic growth rate will rebound significantly, our Deko Corporation will continue the mild repair trend, the sewing equipment sales market is no longer stagnant, sewing machinery industry restocking and user demand space will gradually open. We should adhere to the bottom line thinking of high quality and high service, accelerate innovation and change in sewing machinery products, strive to find opportunities in the crisis, further enhance risk awareness, and adhere to sound, high-quality development. If you need any assistance, you can contact us by sales@chinapackstar.com.
