How about the economic operation of sewing machinery in the first half of the year?

How about the economic operation of sewing machinery in the first half of the year?

In July 2020, with the effective prevention and control of the domestic epidemic and the comprehensive promotion of resuming work, production, commerce, and market, the domestic demand market for sewing equipment gradually warmed up, and the downturn in overseas markets eased. The decline in major economic indicators such as production and manufacturing, export trade, and economic benefits in China's sewing machinery industry further narrowed, and corporate confidence significantly increased. The pace of production and manufacturing recovery accelerated. At the same time, due to the ongoing spread of the overseas epidemic, the severe and complex international economic environment, and weak demand in downstream industries, China's sewing machinery industry still faces significant challenges and difficulties.

Production and manufacturing

According to data from the National Bureau of Statistics, from January to July, the cumulative industrial added value growth rate of production enterprises above designated size in China's sewing machinery industry was -17.1%, a decrease of 0.5 percentage points compared to June and 14.4 percentage points compared to the first quarter. Production and manufacturing have shown a continuous trend of stable recovery.

economic benefits

According to data from the Bureau of Statistics, from January to July, the cumulative operating revenue of 237 production enterprises above designated size in the industry was 13.51 billion yuan, a year-on-year decrease of 17.18%, a decrease of 0.58 percentage points compared to June and 9.3 percentage points compared to the first quarter; The total profit achieved was 734 million yuan, a year-on-year decrease of 16.43%, with a decrease of 0.91 percentage points compared to June and 47.8 percentage points compared to the first quarter; The gross profit margin was 19.66%, a year-on-year increase of 2.27%; The operating revenue profit margin was 5.43%, a year-on-year increase of 0.91%. In July, the operating revenue of enterprises above designated size decreased by 4.07% month on month, and the total profit increased by 17.26% month on month.

export trade

According to data from the General Administration of Customs, the cumulative export value of China's sewing machinery products from January to July was 1.141 billion US dollars, a year-on-year decrease of 20.64%, and a decrease of 1.3 percentage points compared to June. Among them, the export volume of industrial sewing machines was 1.7486 million units, with an export value of 525 million US dollars, a year-on-year decrease of 25.23% and 27.31%, respectively.

In July, the export value of China's sewing machinery products reached 207 million US dollars, a year-on-year decrease of 14.43% and a month on month increase of 22.65%, continuously stabilizing the trend. The export volume of industrial sewing machines was 330800 units, with an export value of 78.84 million US dollars, a decrease of 19.68% and 33.79% respectively compared to last year, and an increase of 49.21% and 32.12% respectively compared to last year.

Foreign imports

According to relevant data from the customs department, the cumulative import volume of sewing machinery products in China from January to July was 575 million US dollars, a year-on-year increase of 22.43%, which is 2.3 percentage points narrower than in June. Among them, the import volume of industrial sewing machines was 21900 units, with an import value of 39.48 million US dollars, a year-on-year decrease of 25.46% and 43.13%, respectively.

In July, the import value of sewing machinery products in China reached 87.35 million US dollars, an increase of 11.01% year-on-year and a decrease of 21.12% month on month. Among them, the import volume of industrial sewing machines was 2442 units, with an import value of 5.52 million US dollars, a decrease of 54.44% and 50.78% respectively compared to the previous year, and the import volume decreased by 13.10% compared to the previous month.