Before the epidemic, China's apparel industry production growth rate has slowed down, but still shows a steady trend of reinforcement. According to the National Bureau of Statistics data, from 2000-2019, China's apparel products grew from 7.159 billion pieces to 24.472 billion pieces, with an average annual compound growth rate of about 6.68%
During the epidemic, the production of China's apparel industry was briefly affected, but the supply chain was repaired relatively quickly. 2020, affected by the epidemic, the output of yarn, cloth and apparel of enterprises above the scale in China decreased by 8.4%, 15.7% and 7.65%, respectively, year-on-year. 2021, supported by the overall stable situation of domestic epidemic prevention and control, and the recovery of domestic and foreign markets, the output of yarn, cloth and apparel in China increased by 8.4%, 7.5% and 8.38%.
2022 by the rebound of the domestic epidemic, the international political and economic environment is more complex and other factors, China's garment industry has faced localized phased shutdown, poor logistics operation, high prices of raw materials and other risk challenges, production and operation fluctuations. One of the largest textile distribution center in China, Guangzhou Zhongda textile circle also stopped for a period of time.
Third, the domestic sales of the clothing sector
First of all, the domestic sales market of China's apparel industry is huge.
Along with China's economy maintaining rapid growth, the steady rise in national income, the trend of consumer upgrading steadily, the overall scale of China's domestic sales of clothing market growth trend. According to the data of the National Bureau of Statistics, before the epidemic, from 2000 to 2019, the retail sales of clothing, shoes, hats, needles and textiles above the limit in China grew from 95.92 billion yuan to 1.35 trillion yuan, with a compound annual growth rate of about 14.94%; the retail sales of clothing above the limit grew from 58.79 billion yuan to 977.81 billion yuan, with a compound annual growth rate of about 15.95%.
Secondly, the epidemic brought about a rebound in online consumer demand, for clothing online consumer demand to accelerate the release.
In 2020, China's online retail sales of wearing goods grew by 5.8% year-on-year, with growth rate rebounding by 23.9 percentage points from the beginning of the year. 2021, the domestic market is steadily rebounding, with annual retail sales of clothing, shoes and hats, needles and textiles above the quota in China growing by 12.7% year-on-year, with growth rate rebounding by 19.3 percentage points year-on-year, with a two-year average growth of 2.6%, which is gradually approaching the growth level before the epidemic.
Network channel retail sales grew steadily, and the retail sales of online wearing goods in 2021 grew by 8.3% year-on-year, with a growth rate rebounding by 2.5 percentage points year-on-year and a two-year average growth of 7%.
Fourth, the foreign trade segment of apparel
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Looking back to 2022, China's foreign trade in clothing, although under severe pressure, but still retains the advantage.
Since the beginning of the year, driven by the recovery of international market demand, rising costs pushing up export prices and other factors, China's garment exports continue to maintain growth.
From January to August 2022, China's exports of clothing and clothing accessories were US$118 billion, up 11.6% year-on-year and 20.39% higher than the same period in 2019. Under the epidemic, China's apparel exports have been increasing their global share and the export advantage remains solid.
However, after August, due to the increased risk of recession in the global economy, especially in the euro zone, resulting in weakening consumer demand in the international market, combined with the recovery of overseas supply chains and the impact of multiple factors such as trade friction between China and the United States, the growth rate of apparel exports slowed down significantly.
In September, the month of clothing exports turned negative growth, October exports fell significantly deeper, clothing exports downward pressure further intensified.
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