Ministry Of Commerce: Garment Export Status Is Not Ideal In January.

The retail sales of Spring Festival are increasing rapidly.

According to the Ministry of Commerce monitoring, the thirty of the new year is six at the beginning of the new year. The total retail sales of consumer goods in China reached 340 billion yuan, an increase of 17.2% over last Spring Festival Golden Week.

Among them, sales of clothing, shoes and hats increased by 17.7% and 14.6% respectively (up 3.5 and 1.7 percentage points respectively) from the same period last year. Under the influence of severe cold weather, sales of warm clothing such as down garments and thermal underwear increased significantly; sales of gold and silver jewelry increased by 19.1%; and sales of household appliances increased 15.4% over the same period last year.

From these data, domestic retail growth is still strong, and there is not much worry in the future. We think that it is related to the increase of per capita income and the release of some repressive demand in China.

Of course, according to past experience, the consumption growth rate will decline moderately in the one or two months after the Spring Festival.

There's not much surprise in exports.

In January 2010, China's textile and apparel exports totaled $15 billion 568 million, an increase of 2.2% over the same period last year.

Among them, textile exports amounted to $5 billion 581 million, an increase of 18.2% over the same period, and exports of clothing and accessories amounted to $9 billion 986 million, down 4.9% from the same period last year.

Textiles have been growing steadily for 3 consecutive months, while garment exports still fail to reverse negative growth.

Because the Spring Festival of 2009 was in January, and the impact of the economic crisis at that time led to the low export base point, the growth rate of 18.2% in the first month of 2010 did not bring much surprise to the market.