Industrial added value of China's textile enterprises above designated size in Jan-Feb falls by 5% y-o-y

In Jan-Feb 2023, the industrial added value of China's textile enterprises above designated size decreased by 5.0% year-on-year, and the operating income was 672.52 billion yuan, a year-on-year decrease of 8.2%. The total profit was 15.5 billion yuan, a year-on-year decrease of 34.5%. The industry's loss was 33.6%, expanding 5.1 percentage points year-on-year. The output of yarn, fabric, and apparal of enterprises above designated size decreased by 1.7%, 11.2%, and 11.1% year-on-year respectively, and the output of chemical fiber decreased by 6.0% year-on-year. The average number of workers in the industry was 5.23 million, a decrease of 5.6% over the same period of the previous year.

The total retail sales of consumer goods of enterprises above the designated size amounted to 2,848.6 billion yuan, a year-on-year increase of 2.1%. Among them, the retail sales of clothing, shoes, hats and knitting textiles increased by 5.4% year-on-year, and the online retail sales of physical goods and wearables increased by 4.0% year-on-year.

In the first two months of 2023, China's textile and apparel exports totaled $40.8 billion US dollars, a year-on-year decrease of 18.5%. Among them, textile exports were $19.2 billion US dollars, a year-on-year decrease of 22.4%, clothing and clothing accessories exports were $21.7 billion US dollars, a year-on-year decrease of 14.7%.