In the first quarter, China’s domestic clothing market achieved a “turn from decline to increase”
China News Service, Beijing, May 15 (Reporter Yan Xiaohong) The China Garment Association released on the 15th the Economic Operation situation of China’s garment industry from January to March 2023. : In the first quarter, with the further effectiveness of consumption-promoting policy measures and the subsidence of the impact of the epidemic, China’s domestic clothing market has experienced a change from decline to growth. Market vitality continues to pick up, and consumer demand is gradually released.
According to the China National Garment Association, since 2023, the international environment has become more complex and changeable, the world economic growth has slowed down significantly, and there are many unstable and uncertain factors. Affected by factors such as weak improvement in market demand, rising production and operation costs, and intensified market competition, the growth rates of major indicators such as production, efficiency, and investment in China’s apparel industry in the first quarter all showed negative growth, putting pressure on the start. However, in March, the overall situation of China’s garment industry resuming work and production and resuming business and market was stable, the domestic sales market accelerated its recovery, industry production, revenue and other indicators gradually recovered, and positive factors that promoted the industry’s stabilization and improvement continued to accumulate.
In the first quarter of 2023, the production growth rate of China’s garment industry continued to decline, and the industrial added value and garment output of enterprises above designated size both showed negative growth.
From January to March, the retail sales of clothing products of units above designated size in China totaled 273.19 billion yuan, a year-on-year increase of 11.4%, and the growth rate was 19.1 percentage points higher than that of 2022. Among them, double-digit rapid growth was achieved in March, with a year-on-year increase of 24.5%, and the growth rate was 18.1 percentage points faster than that from January to February.
In the first quarter, the proportion of garment exports in eastern China continued to decline, while garment exports in central and western regions grew rapidly, indicating that central and western China took over coastalIndustrial transferThe pace is accelerating. From January to March, among the central and western provinces, Xinjiang’s clothing exports continued to maintain rapid growth, with an increase of 55.4%; Jiangxi, Hunan, Sichuan, and Guangxi’s clothing exports increased by 15.0%, 53.0%, 39.8%, and 187.9% respectively year-on-year.
The China Garment Association stated that looking forward to 2023, the development situation faced by China’s garment industry will become more complex and it still needs to overcome challenges such as rising costs and increased trade risks. However, based on the low base effect and smooth operation of the industry in 2022, With the strong support of the domestic cycle, the industry’s anti-risk capabilities and development resilience continue to be released, and the positive factors that promote the industry’s highquality development will continue to increase. China’s garment industry is expected to gradually return to a stable recovery development track.
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