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China's garment industry's revenue for Jan-May at $83.9 bn
05 Jul '22
1 min read
Pic: Shutterstock
The garment industry of China witnessed a growth of 6.1 per cent year-on-year (YoY) in the operating revenue during the first five months of this year. About 13,053 major apparel companies of the country collectively generated a revenue of 561.1 billion yuan (about $83.9 billion) between January and May 2022, as per the ministry of industry and information technology.
The country’s exports of garments and accessories increased by 10.2 per cent between January and May to reach $62.2 billion. However, the total profits saw a decline of 4.6 per cent YoY to reach 23.3 billion yuan.
The combined output of the apparel companies rose by 0.5 per cent YoY to reach 9.3 billion pieces, in the same period, Chinese media reports said quoting the ministry.
The country’s total textile-apparel exports rose by 11.2 per cent year on year to $125.1 billion in the period. Textile exports reached $62.9 billion, surging by 12.1 per cent from a year ago, the data showed.
Fibre2Fashion News Desk (KD)
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