Analysis On The Retail Sales Of China'S Textile And Garment Industry From January To August 2020: Retail Sales Decreased By 15% Year On Year (Table)

China business intelligence network news: According to the National Bureau of statistics, Retail sales of consumer goods totaled 3357.1 billion yuan, up 0.5% year on year, the first positive growth since this year. In addition, from January to August, the total retail sales of consumer goods in China totaled 23802.9 billion yuan, including 21513.9 billion yuan of consumer goods excluding automobiles, a year-on-year decrease of 8.6%.

In terms of textile and clothing retail, the total retail sales of China's textile and clothing reached 96.7 billion yuan in August 2020, an increase of 4.2% compared with the same period last year. From January to August, China's total retail sales of textile and clothing were nearly 700 billion yuan, down 15% year-on-year.

Total retail sales and year-on-year growth of China's textile and garment industry from 2019 to 2020

Data source: compiled by National Bureau of statistics and China Academy of Commerce and industry

From the perspective of the growth rate of textile and clothing retail sales, the growth rate of China's textile and clothing retail sales from January to August 2020 decreased by 15% year-on-year, which was 6.4% lower than the growth rate of social consumer goods retail sales in the same period.

Growth of China's textile and clothing retail sales and total retail sales of social consumer goods from 2019 to 2020

Data source: compiled by National Bureau of statistics and China Academy of Commerce and industry