In the first quarter of 2019, despite the impact of the complex situation of the international economy and the Spring Festival holiday, the textile machinery industry operated in line with expectations under the stable development of the national economy and the textile industry. And the operation revenue and profit of textile machinery enterprises above designated size both achieved double-digit growth, the export of textile machinery products remained stable, showing a slight increase.

In the first quarter of 2019, the textile machinery industry earned CNY 22.98 billion of prime business income, up 14.57% year-on-year, declining 2.27 percentage points compared with same period of last year; it had CNY 102.5 billion of total assets, up 8.56% year-on-year, 1.10 percentage points lower than that of 2018.

The profitability continued to remain stable. From January to March 2019, the total profit of enterprises above designated size in the textile machinery industry reached CNY 1.4 billion, up 13.01% year-on-year; total loss of loss-suffering enterprises was CNY 145 million, down 24.05% year-on-year; the scale of losses was 20.35%. in the first quarter of 2019, the operating profit margin of the textile machinery industry was 6.10%, seeing a decrease of 0.10 percentage points over the same period of last year.

According to the General Administration of the Customs, China's import and export of textile machinery totaled US$ 1.72 billion in the first quarter of 2019, declined by 1.50% year-on-year. The export of textile machinery totaled US$ 902 million, up 1.58% year-on-year, while the import stood at US$ 819 million, down 4.69%.

In the first three months of 2019, China imported US$ 819 million worth of textile machinery from 58 countries and regions, down 4.69% year-on-year. The top five suppliers of China's imported textile machinery are Japan, Germany, Italy, Belgium and Taiwan, with a trade volume of US$ 698 million, up 1.83% year-on-year, accounting for 85.25% of the total import.

By product category, chemical fiber machinery ranked the first, with import amounting to US$ 215 million, up 3.97% year-on-year, accounting for 26.25% of the total. Five categories among seven major product categories saw a decline in different degree, except for chemical fiber machinery and weaving machinery. Driven by the industrial transfer and upgrading as well as the increase of downstream demand, the imports of weaving machinery maintained high growth.

In the first three months of 2019, China exported US$ 902 million worth of textile machinery, up 1.58% year-on-year. China exported textile machinery and equipment to 170 countries and regions. The major export destinations are India, Vietnam, Bangladesh, Uzbekistan and Indonesia, accounting for 56.47% of the total export. Affected by industrial transfer, the export to Uzbekistan and Vietnam increased significantly. For the first time, the export to Uzbekistan ranked the top five in textile machinery exports.

By product category, knitting machinery ranked the first, with export amounting to US$ 253 million, up 4.98% year-on-year, accounting for 28.06% of the total. The followed categories were printing, dyeing & finishing machinery, auxiliary equipment & spare parts, spinning machinery, weaving machinery, chemical fiber machinery and nonwoven machinery. Among them, three categories showed growth momentum. Under the influence of active overseas investment of textile enterprises, the growth rate of spinning machinery exports in the first quarter continued the growth trend of last year, mainly exported to Uzbekistan, Vietnam, Bangladesh, etc.

Source: CHINA TEXTILE LEADER Express