China's exports of dyed polyester filament fabrics made from textured yarns were up more than 67% in volume terms in the first two months of 2005, nearly reaching 500 million square metres (under HS number 54075200, namely with more than 85% textured polyester yarns).
The average unit price was kept stable at US$0.87 per square meter compared with US$0.84 for the same period of 2004.
Iran became the first importer of Chinese dyed polyester filament fabrics with sales up nearly 293% in volume terms to 70.2 million square metres.
Exports to the United States surged 4,423% after the removal of quotas, rapidly reaching 13.3 million square metres from only 293,000 square metres in the same period of 2004.
Shipments to Pakistan increased more than 2,460% at the same time to 20.6 million square metres with this country becoming the fourth importer of Chinese dyed polyester fabrics. In the same period of 2004, China had only exported 807,000 square metres to Pakistan.
The two biggest markets for Chinese dyed polyester fabrics are in Western Asia. The first two importers, Iran and U.A.E., accounted for more than 27% of all Chinese exports, 14% for Iran and 13% for the United Arab Emirates (including Dubai). Saudi Arabia, who was the 7th buyer, accounted for more than 3% of total shipments. All Western Asian markets together accounted for more than 30% of all Chinese shipments.
Exports to other countries, like India, Egypt, Indonesia, Republic of Yemen, grew more than 200% in volume terms. Sales to Egypt even surged more than 300%.
China's direct sales to Hong Kong fell in January-February. Exporters in mainland China increasingly prefer directly selling their fabrics rather than depending on Hong Kong's intermediaries. Volumes fell almost 49% to 12 million square metres on Hong Kong's market, compared to 21 million square metres in the same period of 2004.
Exports to Mexico also decreased, as a result of expensive custom duties in Mexico. Shipments fell 38% at just 9 million square metres.
Sales to the German market were up 33% in volume terms to 17 million square metres. Germany therefore kept its position of fourth largest destination.
The second largest buyer in the EU is Italy. On this market, sales rose 31% in volume terms. The third is Spain where shipments reached 7.7 million square metres, up 28%. The fourth is Belgium with sales climbing to 6 million square metres, up 61%.
EU's decision to apply anti-dumping duties on imports of polyester filament fabrics from China is expected depressing sales. Brussels just announced a cut in planned duties, however, that could help in stabilizing shipments.
EmergingTextiles.Com
