PRC garment industry reports lower revenue in 1st 10 mnths

12 Dec '19
1 min read
Pic: Shutterstock
Pic: Shutterstock

China's garment industry revenue was lower in the first 10 months of this year, according to the ministry of industry and information technology (MIIT). From January to October, the combined operating revenue of major garment enterprises each with an annual operating revenue of 20 million yuan eased by 0.2 per cent year on year to 1.31 trillion yuan, data showed.

Meanwhile, profits of those enterprises shrank by 3.4 per cent to 68.5 billion yuan from the same period in the previous year, according to an official news agency report.

The output of the enterprises was down 0.8 per cent to a total of 20.3 billion pieces in the first 10 months of the year, the ministry said.

During the same period, the exports of clothing and accessories edged down 4.5 per cent year on year to $127.2 billion, MIIT added.

Fibre2Fashion News Desk (DS)

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