According to customs data, VFY (H.S. code: 54033190) export of China in Nov decreased by 18.65% month on month and 5.59% year on year to 9.59kt. In 2025, the exports amount to 113.64kt, rising by 18.16% on yearly basis. The average export volume in 2025 is 9,470 tons, which is 18.16% higher than 8,015 tons in 2024.
The export price of VFY in Dec slightly dipped by 1.8% m-o-m and 2.93% y-o-y to $5,080/mt. In 2025, the average export price is $5,176/mt, which is 2.77% lower than $5,323/mt in 2024.
In 2025, the reliance of VFY on India and Pakistan, its two largest consumer markets, further intensified. The combined share of the two markets rose from 78% in 2024 to 84%. India's imports of VFY from China increased by 25% year on year, exceeding 70kt for the whole year. Pakistan saw a year-on-year growth of 29.4%, with its import volume also surpassing 20kt. India remained the top export destination, with its consumption being 3.5 times that of Pakistan. Among other major destinations, most saw a year-on-year decline in trade volume, except for Japan and Vietnam, which registered modest growth.
The export concentration of VFY further increased in 2025. The combined share of the two leading enterprises-Xinxiang Chemical Fiber and Jilin Chemical Fiber rose from 80% to 83% (including data from Xinjiang). The export volume rose by nearly 10kt compared with 2024. Yibin Grace saw its share edge down slightly from 13% to 11%, though its actual export volume still grew. Hubei Golden Ring's share dropped from 5% to 4%, making it the only enterprise with a decline in export volume.
VFY export growth was maintained in 2025, and optimistic expectations remain for demand in major consumer markets. Coupled with the increased initiative of producers in overseas sales amid capacity expansion, the export of VFY is projected to continue to grow in 2026, providing certain support.
