In October, the economic operation of China's apparel industry recovered steadily. The domestic and foreign markets continued to pick up. The decline in major economic indicators such as production, investment, and benefits were further narrowed. The quality of industrial operation improved continually, and the production and operation of enterprises gradually enhanced. The spread of the Covid-19 pandemic has hit Europe and the United States again, and has delayed the recovery of international market demand. However, driven by the accelerated recovery of the China's market and the return of foreign orders, the steady recovery of the apparel industry will be further maintained.

The economic operation of garment industry in January-October is as follows:

Production

According to the National Bureau of Statistics, from January to October, the garment production of enterprises above designated size in garment industry totaled over 17.81 billion pieces, declining by 8.38% year-on-year, 2.15 percentage points narrower than that of September.

Domestic sales

According to the National Bureau of Statistics, from January to October, the total retail sales of consumer goods amounted to CNY 31.19 trillion, down by 5.9% year-on-year. Thereinto, the retail sales of clothing, foot & head wear and knitted goods by major retailers above designated size was CNY 664.2 billion, declined by 11.2% year-on-year, 3.0 percentage points narrower than September.

According to the National Bureau of Statistics, from January to October, China's online retail sales was more than CNY 7.56 trillion, growing by 16.0% year-on-year. In the online retail sales of physical commodities, wearing goods increased by 5.6% year-on-year, 2.3 percentage points higher than that of September.

Export

According to the Customs Newsletters, from January to October, China's garment and accessories exports totaled about US$ 111.02 billion, down 8.6% year-on-year, 1.7 percentage points narrower than September.

Investment

According to the National Bureau of Statistics, from January to October, the actual investment of China's garment industry decreased by 31.6% compared with the same period of 2019, 1.1 percentage points narrower than that of September.

Benefit

According to the National Bureau of Statistics, from January to October, the main business income of textile enterprises above designated size totaled about CNY 1.07 trillion, with year-on-year decrease of 12.85%, 0.61 percentage points narrower than that of September; the total profit was CNY 49.07 billion, down 21.33% year-on-year, 1.60 percentage points narrower than that of September ; the margin of operating income was 4.57%, down 0.49 percentage points compared with the same period in 2019.

Source: CHINA TEXTILE LEADER Express