China News Agency, Beijing, September 16 (Reporter Yan Xiaohong) The China Garment Association released the economic operation of China’s garment industry from January to July 2022 on the 16th. From January to July, the industrial added value of enterprises above designated size in the garment industry increased by 3.6% year-on-year, and the growth rate was 6.8 percentage points lower than that of the same period of the previous year, and 0.8 percentage points lower than that from January to June. During the same period, China’s garment exports maintained steady growth.
According to the China Garment Association, in July, in the face of the more complex and severe international environment and the unfavorable situation of domestic epidemics, the Chinese clothing industry strived to overcome difficulties and problems such as weakening demand, rising costs, and backlog of inventory, and the industry continued to stabilize and recover as a whole. In addition to the small fluctuations in production, domestic sales continued to improve, exports grew steadily, investment grew well, and corporate benefits continued to grow.
From January to July, under the strong support of the continuous recovery of international market demand, China’s clothing exports continued to maintain rapid growth on the basis of the high base in 2021, showing strong development resilience. From January to July, China’s total exports of clothing and clothing accessories totaled 99.558 billion US dollars, a year-on-year increase of 12.9%, and the growth rate was 0.9 percentage points higher than that from January to June.
But at the same time, the China Garment Association said that the rising risk of stagflation in the world economy has further increased the risk of weakening demand in the international market, and the continued economic recovery of China’s garment industry is still facing challenges. Global inflation remains high, the risk of weakening international market demand increases, and the spread of domestic epidemics is not conducive to the normal production and operation of enterprises. China’s clothing exports will face greater pressure in the next stage.
Post time: Oct-19-2022