China's leather industry is stable in the January-October period. Footwear exports from Vietnam increased by 39.9% in 11 months. China's industrial production and export are slowing. The buying PMI fell to 48 in November from 49.2 in October. Vietnam's industrial production grew by 8.6% in 11 months, but slowed down due to decreasing demand, rising input costs and a shortage of material supply. [Source: Xinhua]
China's leather industry registered stable expansion in the first 10 months of the year, data from the Ministry of Industry and Information Technology shows.
The combined business revenue of major manufacturers of leather, fur, feather and related products, as well as footwear, stood at 930.74 billion yuan (about 131.94 billion U.S. dollars), up 1.9 percent year on year, according to the ministry. The increase is in line with inflation, which in October, measured by the consumer price index (CPI) still rose by 2.1% and is now still growing, but slowing, with a +1.6% in November.
Vietnam raked in more than 22.1 billion U.S. dollars from exporting footwear between January and November this year, witnessing a year-on-year rise of 39.9 percent, according to the country's Ministry of Industry and Trade on Monday.
Over the months, the country also earned over 3.7 billion dollars from exporting handbags, wallets, suitcases, hats and umbrellas, up 39.3 percent year on year.
China’s customs authorities have reported a decline in exports for the month of November. Export revenues for the month fell by 8.7% compared to the figure for November 2021. The decline in exports to the US was even steeper, at 13.2% and analysts were quick to point to weak consumer demand as the main cause.
The official purchasing managers' index (PMI) for the manufacturing sector fell to 48 in November from 49.2 in October, marking the lowest reading since April, according to the National Bureau of Statistics.
Vietnam's national index of industrial production advanced 8.6 percent year on year in the first 11 months of this year, according to the country's General Statistics Office on Friday.
The processing and manufacturing sector, the main driver behind the increase, went up by 8.9 percent. The electricity production and distribution sector expanded by 7.7 percent, and the water supply and waste management sector increased by 7.1 percent, said the office.
In November alone, the industrial production index rose 0.3 percent against October and 5.3 percent year on year.
The industrial production growth of Vietnam slowed down due to decreasing demand, rising input costs and a shortage of material supply, the office said.
