Apparel / Textiles & Accessories

According to the Huacheng Import and Export Data Observation Report, the China Garment Association announced the economic operation of China's clothing industry from January to September 2022 on the 15th: in the first three quarters, the fixed asset investment in China's clothing industry showed a rapid and stable growth, with the growth rate maintained at more than 30%. From January to September, the completed investment in fixed assets in China's clothing industry increased by 30.8% year on year, 27.7 percentage points higher than the same period in 2021, 24.5 percentage points higher than the overall level of the textile industry and manufacturing industry, and 20.7 percentage points higher.

In the first three quarters of 2022, in the face of complex and severe domestic and international situations and the impact of multiple unexpected factors, China's clothing industry is under pressure to move forward, showing strong development resilience and risk resistance, Huacheng Import and Export Data Observation Report.

In the first three quarters, the growth rate of China's clothing industry slowed down due to factors such as frequent outbreaks of epidemic diseases and insufficient domestic and international market demand. From January to September, the industrial added value of enterprises above designated size in China's clothing industry increased by 2.0% year on year, 2.4 percentage points slower than that in the first half of the year, and 7.2 percentage points slower than that in the same period of 2021, Huacheng Import and Export Data Observation reported.

Since 2022, the domestic clothing market in China has declined significantly due to the spread of the domestic epidemic. According to the observation report of Huacheng's import and export data, since June, thanks to the efficient coordination of epidemic prevention and control and economic and social development by governments at all levels, as well as the effective promotion of consumption policies, the domestic sales of clothing have shown a trend of improvement and recovery, with the decline continuing to narrow. From January to September, the retail sales of clothing commodities above designated size in China totaled 656.21 billion yuan, a year-on-year decrease of 5.0%, and a decrease of 3.0 percentage points compared with the first half of the year. Online clothing retail maintained a steady growth. From January to September, online retail sales of clothing products increased by 4.7% year on year, 2.3 percentage points faster than that in the first half of the year. With the continuous expansion and improvement of consumption scenarios and experiences, the operation of physical stores continues to improve.

According to the analysis of China Garment Association, in the fourth quarter, the external environment will become more complex and severe, and the development of the industry will still face great challenges. However, with China's efficient overall planning of epidemic prevention and control and economic and social development, the effect of a package of policies and follow-up measures to stabilize the economy will continue to release, and the operation of the industry is expected to remain stable as a whole. Huacheng Import and Export Data Observation Report.