Increasing revenue and shrinking profits for Chinese garments

China’s garment industry saw revenue expansion and dropping profits in the first seven months of the year, according to the Ministry of Industry and Information Technology (MIIT).

In the January-July period, the combined operating revenue of major garment enterprises each with an annual operating revenue of 20 million yuan (about 2.8 million U.S. dollars) rose 2.15 percent year on year to 896.2 billion yuan, MIIT data showed.

However, profits of those enterprises shrank 3.48 percent to 46.1 billion yuan compared with a year ago during the period, said the MIIT.

The output of the enterprises was down 0.46 percent to a total of 14.3 billion pieces in the first seven months of the year, according to the ministry.

During the same period, online retail sales of apparels went up 20.4 percent from a year ago, while exports of clothing and accessories edged down 3.67 percent year on year to 83.5 billion U.S. dollars, MIIT data showed.

Courtesy: Xinhua

Recent Posts

Trivantage expands Batyline sling fabric line

Trivantage, a leading provider of fabrics, hardware, and accessories, has launched two new additions to the Batyline sling fabric range…

9 hours ago

TESTEX promotes sustainable textile practices

TESTEX has introduced the new Testex Circularity label, designed to support brands and manufacturers by focusing on extending the life…

9 hours ago

Better Cotton to promote sustainable cotton farming in Brazil

Better Cotton has launched a new programme to support the growth of eco-friendly cotton farming and encourage sustainable farming practices…

9 hours ago

INNOVERA shines in Karmuel Young’s convertible design

Modern Meadow proudly announced that Karmuel Young, founder of the Hong Kong-based menswear label, integrated the INNOVERA biomaterial into his…

4 days ago

XYXX launches fast-fry innerwear range with Tactel fabric

XYXX has introduced its latest innovation in men’s innerwear, featuring Tencel-enhanced Tactel fabric that enables fabric to dry up to…

4 days ago

Dhana Inc., Accelerating Circularity to advance sustainability in textiles

Dhana Inc. has partnered with Accelerating Circularity Inc. (ACP), a nonprofit organization focused on developing textile-to-textile recycling systems.

4 days ago