Shandong Textile And Garment Export Enterprises Generally Decline In Profits

According to a survey of the operation of 1464 textile and garment export enterprises in Shandong Province, the profit margins of textile and garment enterprises in the province have been squeezed this year, and the export situation of textile and clothing is very severe.

In the first quarter, only 433 (29.6% of the profits) were operating well, accounting for only 29.6%; 21.3% of the losses were even discontinued or converted to production; the rest were basically guaranteed capital operations (around 1% of profits).

The first quarter of this year is affected by a variety of factors, the average cost of enterprises increases by 20-35%, while export prices are difficult to increase synchronously.

In the recently concluded 103rd Canton Fair, the biggest increase in textile and clothing prices rose by only 15%, and most of the products increased by below 5%. It is difficult to digest the impact of rising costs, and the business situation is worrying.