The economic operation of the apparel industry in January-November is as follows:

Production

According to the National Bureau of Statistics, from January to November, the industrial added value of China’s apparel enterprises above the designated size fell 8.3% year-on-year, 0.2 percentage points narrower than January-October 2023; the production of apparel enterprises above the designated size totaled 17.68 billion pieces, declining by 9.95% year-on-year. In November alone, the industrial added value of China’s apparel enterprises above the designated size declined by 5.5% year-on-year.

Domestic sales

According to the National Bureau of Statistics, from January to November, the sales of apparel in retail units above the designated size totaled CNY 922.5 billion, seeing a year-on-year growth of 13.8%, 1.5 percentage points higher than that of the January-October period. Among them, the sales of apparel in retail units above the designated size surged by 25.9% year-on-year in November, 17.2 percentage points higher than the previous month.

According to the National Bureau of Statistics, from January to November, China’s online retail sales were CNY 11.77 trillion, growing by 8.3% year-on-year. In the online retail sales of physical commodities, wearing goods increased by 9.2% year-on-year, 1.6 percentage points higher than that of the first ten months.

Export

According to the Customs Newsletters, from January to November, China’s apparel and accessories exports totaled US$ 145.20 billion, down 8.6% year-on-year. In November alone, the apparel and accessories exports reached US$ 12.55 billion, decreasing by 2.8% year-on-year, 5.9 percentage points narrower than that of October.

Investment

According to the National Bureau of Statistics, from January to November, the actual investment in China’s apparel industry decreased by 3.4%, 0.9 percentage points narrower than that of the first ten months of 2023.

Benefit

According to the National Bureau of Statistics, from January to November, the main business income of apparel enterprises above the designated size totaled about CNY 1.08 trillion, with a year-on-year decline of 6.02%, 1.54 percentage points narrower than the first ten months of 2023. The total profit was CNY 52.79 billion, down 4.82% year-on-year. The margin of sales was 4.86%, up 0.06 percentage points compared with the same period in 2022.

Source: CHINA TEXTILE LEADER Express