Industry News | Overview of Import and Export of Cashmere Raw Materials and Products in 2024
In 2024, the total import and export volume of cashmere raw materials and products was 2023.7294 million US dollars, a year-on-year decrease of 4.69%, and both imports and exports showed a year-on-year decline. Among them, exports amounted to 1515.6104 million US dollars, a year-on-year decrease of 6.09%, while imports amounted to 50.81189 million US dollars, a year-on-year decrease of 0.26%, which slowed down compared to the same period last year.
1, Export
1. In 2024, there will be 3034.11 tons of non plush exports, with a value of 289.3642 million US dollars, a year-on-year decrease of 20.13% and 17.36% respectively. The average unit price per kilogram will be 95.37 US dollars, an increase of 3.47%. The median average unit price fluctuated after 2021 and slightly rebounded in 2024, reaching $83.36/kg, a year-on-year increase of 0.88%, indicating a stable price distribution. Among them, the export quantities to Italy, Japan, and the United Kingdom decreased by 17.67%, 59.28%, and 40.07% respectively. Although the decrease was significant, the unit price remained the same or slightly increased.
2. Cashmere yarn is affected by fluctuations in demand from major markets such as the United States, the European Union, the United Kingdom, Russia, and Japan, as well as changes in the external environment. After a slight increase in export volume in 2023, it will experience a significant decline again in 2024, with a cumulative export of 2706.21 tons and a cumulative export value of 288.57 million US dollars, a year-on-year decrease of 37.73% and 37.18% respectively, reflecting a decrease in international market demand and intensified competition pressure. The average unit price of the product has increased, with a median value of $133.32/kg, a year-on-year increase of 26.97%. The price distribution has changed significantly, reflecting a significant increase in the proportion of high-value products. Among them, exports to the United States amounted to 58.54 tons, a year-on-year decrease of 92.10%; Export 241.91 tons to the European Union, a year-on-year decrease of 70.20%; The quantity of cashmere yarn exported to Italy remained relatively stable year-on-year, with an average unit price of 108.88 US dollars per kilogram, a decrease of 8.54%. Export growth regions include South Korea, Vietnam, Cambodia, Kazakhstan, Nepal, and Hong Kong, China, with average unit prices of $110.79, $95.78, $106.05, $100.17, $119.27, and $110.89, respectively, in contrast to traditional markets.
3. The annual export of cashmere sweaters was 24.2649 million pieces, a year-on-year increase of 11.06%, with a cumulative export value of 793.9241 million US dollars, an increase of 19.17%. The average weight of a single item has decreased slightly for four consecutive years, reaching 0.26 kilograms, a year-on-year decrease of 3.70%; The average unit price is 32.72 US dollars, a year-on-year increase of 7.31%. In addition to cost changes, it reflects that the structure of exported products has also been adjusted. This situation is also reflected in the changes in the median annual average unit price, which remained in the range of $32 to $35 from 2020 to 2023. In 2024, it significantly decreased to $17.25, a year-on-year decrease of 47.39%, indicating a significant change in price distribution and a significant increase in the proportion of low-priced products exported. Among them, exports to the United States amounted to 8.783 million pieces, with a value of 357.0607 million US dollars, a significant increase of 31.6% and 37.2% compared to 2023. The average weight of a single item is 0.27 kilograms, an increase of 3.8% compared to 2023. The average export unit price was $42.00, an increase of 4.3%, reaching a high in the past five years. After reaching its peak in 2021, the export quantity to the European Union decreased in 2022 and 2023, but rebounded in 2024. The export quantity was 5.1597 million pieces, a year-on-year increase of 16.30%, and the amount was 204.6778 million US dollars, a year-on-year increase of 3.70%. However, the average unit price decreased significantly, by 10.90%, to 39.67 US dollars; The median average unit price is $27.11, reflecting an increase in the proportion of relatively low-priced products in exports, and the price pressure on products exported to Europe remains high. In terms of exports to Japan and South Korea, the cumulative export quantity was 1.6682 million pieces, with a value of 61.5489 million US dollars, an increase of 18.30% and 20.70% respectively compared to the previous year. The average unit price fell slightly after reaching its peak in 2022, but this year it is still higher than the levels in 2020 and 2021, reaching 36.90 US dollars, a slight increase. Overall, exports to Japan and South Korea have significantly rebounded in 2024, but there are still signs of an increase in the proportion of relatively low-priced products, indicating significant price pressure. In terms of exports to ASEAN, both the quantity and amount of exports have achieved significant growth, with the export quantity approaching the level of 2021, reaching 3.9699 million pieces and a value of 42.8637 million US dollars, a year-on-year increase of 119.50%. Although the overall trend is showing rapid growth, the prices of exported products to ASEAN have increased due to the influence of the industry chain and target market, but they are still significantly lower than other traditional cashmere sweater consumer markets, and the fluctuation range is still relatively large.
2, Import
1. In 2024, a total of 2921.70 tons of uncut cashmere were imported, with a value of 134.5317 million US dollars, a year-on-year decrease of 30.9% and 27.8% respectively. The average unit price was 46.05 US dollars per kilogram, a year-on-year increase of 4.6%, maintaining the overall upward trend in the past five years. Among them, Inner Mongolia Autonomous Region imported 253.08 tons with a value of 12.9662 million US dollars, while Hebei Province imported 2214.71 tons with a value of 109.5295 million US dollars.
2. The import quantity of cashmere yarn has been declining for three consecutive years since 2022, with a cumulative import of 302.18 tons and a value of 35.9187 million US dollars in 2024, a year-on-year increase of 10.6%; The average import unit price is 118.86 US dollars per kilogram, a year-on-year increase of 20.1%; The median average unit price increased significantly in 2022 and continued to grow in 2023 and 2024, reaching $196.97 per kilogram in 2024, a year-on-year increase of 6.0%. Overall, the trend of changes in the median value is similar to that of the average unit price, but the median value is much higher than the average unit price, indicating a high proportion of high-end yarn and a continuous trend of decreasing quantity and increasing price. Among them, Guangdong Province imported 267.68 tons of cashmere yarn, with a value of 30.027 million US dollars, accounting for 89.0% of the total import volume of cashmere yarn this year.
3. Throughout the year, 447500 cashmere sweaters were imported, a year-on-year increase of 10.8%, with an import value of 154.2465 million US dollars, a year-on-year decrease of 3.3%. In contrast to exported products, imported cashmere sweaters are mainly heavy products, with an average weight of 0.33 kilograms per piece, but the unit price has decreased by 12.7% year-on-year to 344.70 US dollars. Overall, the import volume, amount, and weight showed a fluctuating growth trend throughout the year, while the unit price and median value showed an upward trend. The proportion of high priced products increased, which was related to changes in costs, exchange rates, and trade policies, and had a certain impact on the import scale and product structure. Among them, the export of cashmere sweaters from ASEAN countries, mainly Cambodia and Vietnam, to China showed explosive growth, with an import quantity of 143800 pieces, a year-on-year increase of 473.8%. The average unit price is 44.34 US dollars, a year-on-year increase of 11.8%; 164200 pieces were imported from Italy, with an average weight of 0.4 kilograms per piece. The average unit price has increased for four consecutive years, reaching 747.93 US dollars, a year-on-year increase of 7%.
Article transferred from: WeChat official account of China Wool Textile Industry Association