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    Briefing On Economic Operation Of China'S Clothing Industry From January To August

    2023/10/11 18:41:00 10

    Economical Operation

    Since this year, the external environment faced by China's clothing industry is still complex and severe. The recovery of world economy and trade is weak. The consumption capacity and willingness of domestic residents still need to be improved. The main economic operation indicators of industry production, export, efficiency, investment and so on continue to grow negatively. Market demand is insufficient Industry competition intensifies and enterprises are short of funds, which have become the main problems restricting the stability and recovery of the industry, especially for SMEs. In August, the decline of clothing exports narrowed due to factors such as the base reduction in the same period last year, the inventory digestion of overseas enterprises, and the devaluation of RMB. The domestic market continued to recover under the support of a new round of stable growth policy measures and the summer tourism season. In the next stage, with the gradual recovery of European and American economies, the continuous promotion of enterprise destocking, and the accumulation of positive factors for expanding consumption in China, the foundation for the economic recovery of the clothing industry will be further consolidated.


    01 Production

    According to the data of the National Bureau of Statistics, from January to August 2023, the industrial added value of enterprises above designated size in China's clothing industry will decline 8.9% year on year, 0.2 percentage points deeper than that from January to July, and 10.3% lower than that of enterprises above designated size in August, 0.8 percentage points narrower than that in July; The clothing output of enterprises above designated size reached 12.645 billion pieces, down 10.27% year on year, 0.52 percentage points more than that from January to July.


    02 Domestic sales

    According to the data of the National Bureau of Statistics, from January to August 2023, the total retail sales of consumer goods in China will be 30228.1 billion yuan, up 7.0% year on year, 0.3 percentage points slower than that from January to July. Among them, the retail sales of clothing commodities of units above the designated size totaled 639.5 billion yuan, up 12.9% year on year, 0.9 percentage points slower than that from January to July. Among them, the retail sales of clothing commodities of units above the designated size in August increased by 5.7% year on year, 3.1 percentage points faster than that in July.

    According to the data of the National Bureau of Statistics, from January to August 2023, the online retail sales of physical goods reached 7982.06 billion yuan, up 9.5% year on year. Among them, online retail sales of clothing products increased by 10.9% year on year, 1.1 percentage points slower than that from January to July.


    03 Outlet

    According to Chinese customs data, from January to August 2023, China's clothing and clothing accessories exports totaled US $106.89 billion, down 8.9% year on year, 0.6 percentage points deeper than that from January to July. The export of clothing and clothing accessories in August was 16.17 billion US dollars, down 11.9% year on year, 6.1 percentage points less than that in July.


    04 Investment

    According to the data of the National Bureau of Statistics, from January to August 2023, the actual completed investment in China's clothing industry decreased by 4.3% year on year, 1.2 percentage points less than that from January to July.


    05 Benefits

    According to the data of the National Bureau of Statistics, from January to August 2023, 13609 enterprises above the designated size (annual main business income of 20 million yuan and above) in the clothing industry in China achieved an operating income of 764.754 billion yuan, a year-on-year decrease of 8.89%, 0.4 percentage points more than that from January to July, and 4.33 percentage points more than that in 2022. The total profit was 33.9 billion yuan, down 6.83% year on year, 0.71 percentage points more than that from January to July, and 0.49 percentage points more than that of 2022. The operating profit margin was only 4.43%, 0.1 percentage point higher than that of the same period last year, still lower than 0.82 percentage point in 2022.

    Data source: National Bureau of Statistics, China Customs

      

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