Japan's exports of shuttleless looms sharply increased in both volume and value in 2003. Vigorous expansions of new and existing capacities in China since 2002 contributed greatly to pushing up exports in general.
According to trade statistics, 2003 shuttleless loom exports increased by 14.3% in volume from the previous year to 22,832. In value, exports grew by 20.8% to 68,163.63 million yen.
By market, exports to China remained active with a 13.6% growth to 17,340. While the introduction of shuttleless looms was slow on a global scale, exports to China were brisk and were able to cover stagnant exports to other markets.
Exports to Pakistan were also vigorous with a 70.6% growth to 1,479, and exports also increased to Thailand and Indonesia by 16.9% and 6.4% to 1,225 and 644 respectively. Exports to India jumped 2.8 times to 422, and those to the U.S. rose by 50.4% to over 200.
Since the end of last year, futures contracts for jet loom exports to China have been slowing down with a decrease in the number of orders. In China, the raising of funds has become difficult due to the following factors: (1) Chinese banks have become stricter in sorting out loans, (2) The high cost of raw materials has increased fund demands, and (3) The return rate of value-added tax was reduced. As a result, L/Cs are slow, and Japanese loom builders are concerned that some of the orders might not be executed.
Japanese loom builders expect that exports to China are unlikely to drop drastically as investment desire centering on large-scale enterprises is high. However, the builders are paying attention to the situation of orders and the execution of contracts since there is no other market that can replace China, and also because exports to China have supported their business during the last two years.
No comments:
Post a Comment