According to the China Garment Association, in July, in the face of the increasingly complex and severe international environment and the multiple outbreaks of domestic epidemics, the Chinese garment industry made great efforts to overcome the difficulties and problems such as weak demand, rising costs, and overstock of inventories. The industry generally continued the development trend of stabilizing and recovering. In addition to the small fluctuations in production, domestic sales continued to improve, exports grew steadily, investment grew well, and corporate benefits kept growing.
From January to July, with the strong support of the continuous recovery of international market demand, China’s clothing exports continued to grow rapidly on the basis of a high base in 2021, showing a strong development resilience. From January to July, China’s clothing and clothing accessories exports totaled US $99.558 billion, up 12.9% year on year, 0.9 percentage points faster than that from January to June.
At the same time, the China Garment Association said that the rising risk of stagflation in the world economy further increased the risk of weakening demand in the international market, and the sustained recovery of China’s clothing industry economy still faces challenges. Global inflation remains high, the risk of weakening international market demand increases, and the multiple outbreaks of domestic epidemics are not conducive to the normal production and operation of enterprises. China’s clothing exports will face greater pressure in the next stage.
Post time: Oct-21-2022