According to General Administration of Customs of China, the sewing machine sector of the country has accumulatively created an import and export trading value of US $ 3.34 billion in 2020, increasing 0.51 per cent compared to the previous year.
Trade surplus fell US $ 260 million in 2020 from a year earlier and valued US $ 1.39 billion.
Of total trade, the export value of sewing machinery sector in total has declined 4.94 per cent Y-o-Y to US $ 2.36 billion in 2020 due to COVID-19 pandemic, which puts an end to the continuous growth that China reported in the past 4 years.
Further, the sewing machine export to Asia has free-fallen because the pandemic has dealt a heavy blow to Asian apparel and footwear manufacturing markets.
On the other hand, China’s export of the same to markets in East Asia, West Asia, Europe, US, etc. has skyrocketed as it got benefitted from the relocation of European and American orders to neighbouring industrial chains and the increasing demand for pandemic control supplies.
China exported US $ 1.42 billion worth of sewing machines to Asia, noting 17.16 per cent yearly decline, while Africa saw an incoming machinery shipment from China worth US $ 238.23 million, growing by 0.75 per cent on Y-o-Y basis in 2020.
See the below table to know China’s sewing machine export to each continent –
|Continent||Export Value in 2020||Y-o-Y
|Share in Total Export Value (in percentage)|
(Values in US $ million)