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

Production

According to the National Bureau of Statistics, from January to April, the industrial added value of garment enterprises above designated size increased by 14.1% year-on-year. Affected by the higher base in the same period last year, the growth rate dropped by 3.4 percentage points from the first quarter; the garment production of enterprises above designated size totaled more than 7.05 billion pieces, up by 23.87% year-on-year, and the two-year average growth reached 4.8%.

Domestic sales

According to the National Bureau of Statistics, from January to April, the total retail sales of consumer goods amounted to over CNY 13.83 trillion, increased by 29.6% year-on-year, the two-year average growth was 4.2%. Thereinto, the retail sales of clothing, foot & head wear and knitted goods by major retailers above designated size was CNY 323.8 billion, surged by 52.6% year-on-year, and edged up by 2.4% in the past two years.

According to the National Bureau of Statistics, from January to April, China's online retail sales was more than CNY 3.07 trillion, grew by 23.1% year-on-year, and the two-year average growth reached 15.6%. In the online retail sales of physical commodities, wearing goods increased by 33.8% year-on-year.

Export

According to the Customs Newsletters, from January to April, China's garment and accessories exports totaled over US$ 44.41 billion, ballooned by 51.7% year-on-year. And the average growth was 8.6%.

Investment

According to the National Bureau of Statistics, from January to April, the actual investment of China's garment industry increased by 10.1%. The growth rate surged by 51.8 percentage points than the same period last year.

Benefit

According to the National Bureau of Statistics, from January to April, the main business income of textile enterprises above designated size totaled over CNY 407.79 billion, with year-on-year growth of 13.41%, and the growth rate up by 31.88 percentage points; the total profit was CNY 17.79 billion, up 37.89% year-on-year, and the growth rate surged by 72.66 percentage points compared with the same period of last year.

Remarks: The two-year average growth rate is calculated based on the first quarter of 2019, using the geometric average method.

Source: CHINA TEXTILE LEADER Express