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Domestic Sales Growth Of Textile And Garment Industry

2008/12/11 13:46:00 21

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2008 industry operation: profits in the first August increased by 3.2% over the same period last year.

In 2008, the industry continued to decline as a result of the slowdown in the external demand, the appreciation of RMB 7%, the high cost of labor under the general inflation, and the high lending rate.

In 2008 1-9, the output of yarn, cloth and clothing decreased by 8.45 points, 6.14 points and 8.29 points.

In the 1-9 month, the growth rate of fixed assets investment in textile industry and clothing shoes and caps dropped 21.8 points and 24.4 points.

In 2008 1-8, the gross income and profit of the textile industry increased by 15.5% and 3.2%, down 7.5 and 30 respectively.

The 2009 domestic outlook of international apparel consumption is expected to increase by 3.3%.

The main pressure of the domestic market in 2009 included the slow growth of household income, the lagging effect of consumption and the decline of consumer confidence. We have referred to the evolution of clothing consumption and macro economy in the United States, Korea and India over the past 40 years. Combined with the history of domestic clothing consumption and macro economy in 1992-2007 years, we expect that the overall domestic clothing market in China will grow by 1.3%-5.3% over the same period in 2009.

2009 export Outlook: export environment is getting warmer, and industry export is expected to increase by 1.6%.

The export tax rebate rate is in place, interest rates are falling, the RMB is basically flat or depreciated against the US dollar, the cost of raw materials is reduced, and the export market share has increased. This constitutes the main driving force of the investment export leader in 2009.

Sensitivity analysis of textile and clothing consumption in major export areas, we expect that in 2008 and 2009, China's textile and garment exports increased by 6.9% and 1.6% over the same period last year.

Investment strategy: recommend a steady domestic brand clothing company and a strong bargaining power export leader.

China's per capita consumption of clothing and home textiles is much lower than that of developed countries. In the long run, China's domestic brand clothing will continue to grow.

Judging from the decline of the domestic market, the brand clothing enterprises choose defensive brands as the keynote, and choose to run a steady brand clothing company to share the next round of prosperity.