Data Analysis: Economic Operation Analysis And Development Trend Of China's Garment Industry In 2018/19

2018 is the 40th anniversary of reform and opening up. For China's apparel industry, 2018 is a year full of challenges and challenges and rapid changes. Facing the complex and changing international situation and the pressure of structural adjustment in China, our garment industry has maintained a relatively stable development trend under the background of many risks and uncertainties in the development environment. The domestic and foreign market has been stable, and the quality and efficiency have been steadily improved.

(selected from the "2018-2019 China garment industry development report")

(1) production is basically stable and output has decreased slightly.

According to the National Bureau of statistics, in 2018, the apparel industry above designated size enterprises completed 22 billion 274 million garment production, down 3.37% from the same period last year, down 0.75 percentage points from the same period last year, and the decline was narrowed by 4.13 percentage points over 1-7 months. Among them, 11 billion 157 million pieces of woven garments decreased by 3.10% compared with the same period last year, and 11 billion 117 million knitted garments decreased by 3.62% compared with the same period last year. Judging from the output of all kinds of woven garments, the output of down garments, suit suits and shirts decreased by a range of 5.40%, 2.39% and 8.20% respectively over the same period last year.

According to the China Clothing Association estimates, the total garment output of our whole society is expected to be about 45 billion 600 million in 2018, unchanged from the previous year.

Table 12018 clothing production of Enterprises above Designated Size

(source: National Bureau of Statistics)

Figure 12017-2018 annual increase in output of garment enterprises above Designated Size

(source: National Bureau of Statistics)

Industrial added value keeps growing at a low speed. According to the National Bureau of statistics, in 2018, the industrial added value of garment enterprises above designated size increased by 4.4% over the same period last year, and the growth rate slowed down by 1.4 percentage points over the same period last year. Since 2018, the growth trend of the industrial added value of the garment industry has basically converged with the textile industry, which is 3.4 percentage points higher than that of the textile industry, which is 1.8 percentage points lower than the industrial growth rate.

Fig. 22015-2018 growth rate of industrial added value in garment industry

(source: National Bureau of Statistics)

(two) export rebounded

According to China Customs data, in 2018, the total export of clothing and accessories was 157 billion 633 million US dollars, an increase of 0.3% over the same period last year, an increase of 0.7 percentage points over the same period last year. Among them, the export of knitted apparel was better than that of woven garments, and the export of knitted apparel and accessories was 73 billion 335 million US dollars, an increase of 2.1% over the same period, and the export of woven garments and accessories was US $71 billion 302 million, down 2.9% compared to the same period last year.

Figure 32015-2018 changes in export volume of Chinese clothing and accessories

(source: China Customs)

From the monthly export point of view, garment export has been recovering steadily since June, and garment exports in September and October increased by 8.5% and 8.4% respectively. The trend of garment export decline has been alleviated, and exports have been rebounded. In November and December, exports dropped by 2.7% and 4.4%, respectively, and the year-on-year growth in clothing exports was reduced.

Figure 42018 monthly export of Chinese clothing

(source: China Customs)

China's clothing exports to the United States and Japan have resumed growth, narrowing exports to the EU, and increasing exports to some countries along the belt and road.

Table 22018 China's exports to some major countries (sixty-first and sixty-second chapters)

(source: China Customs)

(three) domestic sales remain relatively fast growth.

Since 2018, China's clothing domestic demand market has maintained steady and rapid growth. According to the China Apparel Association estimates, the total sales volume of clothing in 2018 will reach 3 trillion and 80 billion yuan, up 7.32% over the same period last year.

Figure 52013-2018 cumulative growth rate of total retail sales of consumer goods and clothing

(source: National Bureau of Statistics)

1, online clothing sales growth significantly improved

According to the National Bureau of statistics, in 2018 1-12, the online retail sales of apparel products nationwide increased by 22% over the same period last year, and the growth rate increased by 1.7 percentage points over the same period last year.

Figure 62015-2018 growth in online retail sales of physical and clothing commodities

(source: National Bureau of Statistics)

2, retail sales of large retail enterprises have increased by a small margin.

According to the statistics of the China National Business Information Center, in 2018 1-12, the retail sales of clothing commodities in major large-scale retail enterprises increased by 0.99% over the same period last year, and the growth rate slowed down 4.43 percentage points over the same period last year. The retail sales of various types of clothing decreased by 4.22% compared with the same period last year. The growth rate slowed down 8.43 percentage points over the same period last year, and the price increase was the main reason for the decline of the retail sales of major retail enterprises.

Fig. 72015-2018 cumulative growth rate of clothing retail sales in major retail enterprises in China

(source: China National Business Information Center)

3, professional market turnover grew steadily.

According to the quarterly report of China Textile Industry Federation circulation branch, in 2018 1-12, the total turnover of 45 major textile and apparel professional markets was 1 trillion and 209 billion 344 million yuan, an increase of 6.55% over the same period last year. From a geographical perspective, the turnover of specialized markets in the eastern region has achieved steady growth on the basis of huge base. The rise of two or three line cities and the return of population have stimulated the overall upgrading of the central region market.

Figure 82015-2018 focus on monitoring the cumulative growth rate of textile and apparel market turnover

(source: Circulation Association of China Federation of textile industry)

4, clothing prices continue to rise moderately.

Since 2018, the clothing price index and the clothing consumption price index have continued to increase slightly in the previous year, and the growth rate has been synchronized. The producer price index of clothing producers has dropped somewhat over the same period last year. According to the statistics of National Bureau of statistics, in 2018 1-12, the retail prices of clothing commodities increased by 1.3% over the same period last year, 0.2 percentage points higher than that of the same period last year, and the clothing consumer prices rose 1.2% over the same period last year, down 0.1 percentage points from the same period last year.

Figure 92016-2018 changes in clothing consumer price index and factory price index

(source: National Bureau of Statistics)

(four) industry investment narrowed narrowing

On the one hand, China is affected by factors such as rising cost and increasing profit pressure. Enterprises are cautious about the production capacity, replenishment and other items. More and more excellent enterprises have increased overseas investment in industry. On the other hand, in the new stage of development of the industry, investors have changed to pay more attention to the upgrading of supply chain optimization, brand culture and creativity, and technological innovation.

Fig. 102014-2018 schematic diagram of cumulative investment growth in real time

(source: National Bureau of Statistics)

(five) operation is stable and effective.

Since 2018, the quality of China's garment industry has basically been stable, and the growth rate has been significantly improved. According to the statistics of National Bureau of statistics, in 2018 1-12, 14827 enterprises in the garment industry (above 20 million yuan and above) accounted for 1 trillion and 710 billion 657 million yuan, an increase of 4.07% compared with the same period last year. The total profit was 100 billion 675 million yuan, up 10.84% over the same period last year. Industry profitability and capital turnover efficiency increased over the same period last year.

Table 32018 main economic indicators of garment enterprises above Designated Size in China

(source: National Bureau of Statistics)

Fig. 112013-2018 growth rate of major performance indicators for Enterprises above Designated Size in garment industry