According to National Bureau of Statistics of China, the country’s sewing machine exports have fallen 21.90 per cent on Y-o-Y basis in January-June ’20 period.
The total revenues clocked by China in the first half of 2020 in sewing machine export were US $ 934 million.
Of total export values, industrial sewing machines contributed US $ 446 million (sharing 47.75 per cent in total value) and declined significantly by 26.03 per cent on Y-o-Y basis.
As far as export volume is concerned, Chinese industrial sewing machines fell 26.41 per cent to 1.42 million sets. The average export cost per sewing machine valued US $ 371.66 during H1 ’20.
In June ’20, China exported sewing machines worth US $ 169 million, marking 20.93 per cent downfall on the yearly note. However, this value is 23.14 per cent greater than the value achieved in May ’20 and this shows signs of recovery.
The export volume of industrial sewing machines, in particular, in June ’20 fell 31.96 per cent on Y-o-Y basis to 221,700 sets but, as compared with May ’20, the volume-wise shipment surged 16.91 per cent.
The fall was noted in the export value of industrial sewing machines as well which declined by 43.96 per cent to US $ 59.67 million. However, on M-o-M basis, the value was 4.17 per cent higher than May ’20.