Exchange rate fluctuations stimulate sensitive nerves in lions and apparel companies

On September 17, the USD/*** inquiry system closed at 6.7260. Shishi’s foreign trade community noticed that the middle price of *** against the U.S. dollar rose for 8 consecutive days, and the cumulative increase was as high as more than 700 basis points, continuously creating a The new high.

Shishi City is an economic region with high dependence on foreign countries. In the first half of this year, only the city’s self-supported exports reached 868 million U.S. dollars. Even if it is simply multiplied by 2, the total self-supported exports will reach 1.736 billion U.S. dollars. According to the median price of 6.7260 last weekend, the total self-exports for the year amounted to 11.6 billion yuan***. Every great fluctuation in the exchange rate will make the Shishi export-oriented enterprises tighten their nerves.

The annual export delivery value of eight major industries in Shishi exceeded 100 million yuan, ranking in order of export volume: apparel, footwear, communications and electronics, sporting goods, pharmaceuticals, handicrafts, textiles, Agricultural and non-staple food processing industry. Of course, these 8 industries are the ones most affected by the exchange rate, of which the most typical are clothing and footwear.

The total annual export volume of textile and garment industries above designated size in Shishi exceeds 5 billion yuan, and the average monthly export value is approximately 500 million yuan. International trade still uses the US dollar as the main settlement currency. The production period and freight cycle time for each export order is approximately 2 months. That is, if the export goods in transit within 2 months, or has been settled in Hong Kong, or the company has received payment but has not yet had time to settle the foreign exchange, it will eventually The settlement results will be passively shrinking in this *** appreciation (dollar depreciation). Before September of this year, the middle price of *** against the US dollar remained at around 6.8. After entering September, the pace of appreciation of *** suddenly accelerated, from 6.8 to 6.7, not to mention the 0.1 US dollar. The average monthly expenditure of Shishi was 1 billion yuan. *** Export delivery value, if you continue to maintain the range of exchange rate changes last week, static calculations, Shishi export economy will form 1500 ~ 20 million yuan *** shrinking amount.

Shishi entrepreneurs now have to pay more attention to the international exchange rate environment, in addition to the production. The United States eagerly urges the appreciation of the ***, the EU and many countries have maintained their desire to appreciate the ***, and the *** is in an international pressure environment of appreciation. Compared with previous years, the bargaining power of the products manufactured by Shishi has increased a lot. This is due to the result of industrial upgrading. With the improvement of product quality, the export market has gradually shifted to mid-to-high-end customers. The elasticity of price in mid-range and above terminal markets is large. Profits are shrinking, and they will not run out of orders. The current situation of Shishi's export-oriented economy is that export single source is slightly larger than capacity.

In Shishi's export-oriented economy, there is also a plate that is not affected by changes in exchange rates. This is the garment spot market. It has been a habit for many years that foreigners use *** to talk about the price in the apparel spot market.

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