News: Briefing On Economic Operation Of China'S Clothing Industry From January To May

From January to May, the domestic economy and society returned to normal operation in an all-round way, and the policy effects of stabilizing growth and promoting consumption continued to appear. In addition, driven by the May Day holiday economy, the momentum of resuming production and business in China's clothing industry was further consolidated. The decline in domestic production, investment and efficiency significantly narrowed, and the vitality of the domestic market continued to rise. However, the international market situation is becoming more and more severe. China's clothing export market is operating under pressure in fluctuations. Domestic demand is still insufficient, and the endogenous power needs to be strengthened. China's clothing industry still faces great challenges in its steady development and improvement.

01 Production

According to the data of the National Bureau of Statistics, from January to May 2023, the industrial added value of enterprises above designated size in China's clothing industry will decline by 8.6% year on year, 0.6 percentage points lower than that from January to April, and 6.3% lower than that of enterprises above designated size in May, 4.3 percentage points lower than that of April; The clothing output of enterprises above designated size was 8.453 billion pieces, down 1.91% year on year, 5.31 percentage points less than that from January to April.

02 Domestic sales

According to the data of the National Bureau of Statistics, from January to May 2023, the total retail sales of consumer goods in China will be 18763.63 billion yuan, up 9.3% year on year, 0.8 percentage points higher than that from January to April. Among them, the retail sales of clothing commodities of units above the designated size totaled 414.84 billion yuan, up 17.4% year on year, 0.8 percentage points higher than that of January April. Among them, the retail sales of clothing commodities of units above the designated size in May increased by 21.2% year on year, 18.7 percentage points slower than that in April.

According to the data of the National Bureau of Statistics, from January to May 2023, the online retail sales of physical goods will reach 4805.5 billion yuan, up 11.8% year on year. Among them, online retail sales of clothing products increased by 14.6% year on year, 1.1 percentage points faster than that from January to April.

03 Outlet

According to Chinese customs data, from January to May 2023, China's clothing and clothing accessories exports totaled US $61.373 billion, down 1.1% year on year, and the growth rate dropped 3.6 percentage points from January to April. The export of clothing and clothing accessories in May was 13.298 billion US dollars, down 12.2% year on year.

04 Investment

According to the data of the National Bureau of Statistics, from January to May 2023, the actual investment in China's clothing industry decreased by 4.2% year on year, 1.5 percentage points less than that from January to April.

05 Benefits

According to the data of the National Bureau of Statistics, from January to May 2023, 13637 enterprises above the designated size (annual main business income of 20 million yuan and above) in the clothing industry in China achieved an operating income of 462.36 billion yuan, a year-on-year decrease of 7.52%, 0.9 percentage points narrower than that from January to April, and still 2.96 percentage points deeper than that in 2022. The total profit was 17.5 billion yuan, down 8.2% year on year, 9.64 percentage points lower than that from January to April, and 1.9 percentage points deeper than that in 2022. The operating income profit margin was only 3.78%, down 0.37 percentage points year on year, up 0.18 percentage points from January to April, and still lower than 1.47 percentage points in 2022.

Data source: National Bureau of Statistics, China Customs