Industry Data: China'S Garment Industry Economic Operation Briefing From January To August

In August, supported by positive factors such as the gradual implementation of various macro policies and measures, the significant driving role of summer consumption, the low base in the same period last year, and the gradual recovery of major international consumer markets, China's clothing industry was generally stable, and major economic indicators such as production, investment and revenue continued to maintain a recovery growth, while the decline in domestic sales and exports narrowed compared with the previous month. Looking forward to the whole year, the external environment of the industry will become more complex and severe, the risk of international trade friction will increase, the competition of industrial policies in various countries will intensify, the domestic terminal consumption demand will be weak and other problems will continue to exist, the production and operation of enterprises will still face many difficulties and challenges, and the foundation for the stability and improvement of the industry still needs to be consolidated.

01 Production

According to the data of the National Bureau of Statistics, from January to August 2024, the industrial added value of enterprises above designated size in China's clothing industry increased by 0.3% year on year, 0.3 percentage points higher than that from January to July; The clothing output of enterprises above designated size reached 13.401 billion pieces, up 5.69% year on year, 1.2 percentage points faster than that from January to July.

02 Domestic sales

According to the data of the National Bureau of Statistics, from January to August 2024, the total retail sales of consumer goods in China will be 31245.17 billion yuan, up 3.4% year on year, 0.1 percentage point slower than that from January to July. Among them, the retail sales of clothing commodities of units above the designated size totaled 654.46 billion yuan, down 0.2% year on year, and the growth rate dropped 0.3 percentage points from January to July. Among them, the retail sales of clothing commodities above the designated size in August fell 1.9% year on year, 3.7 percentage points lower than that in July.

According to the data of the National Bureau of Statistics, from January to August 2024, the online retail sales of physical goods reached 8014.26 billion yuan, up 8.1% year on year. Among them, online retail sales of clothing products increased by 5.0% year-on-year, 1.3 percentage points slower than that from January to July.

03 Outlet

According to Chinese customs data, from January to August 2024, China's clothing and clothing accessories exports totaled US $104.71 billion, a year-on-year decrease of 1%, 0.2 percentage points more than that from January to July. In August, clothing exports amounted to 15.73 billion US dollars, down 2% year on year, 1.6 percentage points less than that in July.

04 Investment

According to the data of the National Bureau of Statistics, from January to August 2024, the actual investment in China's clothing industry increased by 15.5% year on year, 1 percentage point faster than that from January to August 2024.

05 Benefits

According to the data of the National Bureau of Statistics, from January to August 2024, there will be 13645 enterprises above the designated size (annual main business income of 20 million yuan and above) in China's clothing industry, achieving an operating income of 781.966 billion yuan, up 1.14% year on year, 0.15 percentage points slower than that from January to July; The total profit was 33.9 billion yuan, down 1.75% year on year, 1.67 percentage points more than that from January to July; The operating income profit margin was 4.34%, 0.03 percentage points higher than that from January to July.

Data source: National Bureau of Statistics, China Customs