The overall operation of China’s garment industry continues to stabilize and recover.

China News Service, Beijing, September 16 (Reporter Yan Xiaohong) The China Garment Association released on the 16th the Economic Operation situation of China’s apparel industry from January to July 2022. . From January to July, the industrial added value of enterprises above designated size in the garment industry increased by 3.6% year-on-year, with the growth rate slowing down by 6.8 percentage points from the same period last year and 0.8 percentage points from January to June. During the same period, China’s clothingexports maintained steady growth.

According to the China Garment Association, in July, faced with the unfavorable situation of a more complex and severe international environment and frequent domestic epidemics, the Chinese garment industry worked hard to overcome difficulties and problems such as weakening demand, rising costs, and inventory backlogs, and the overall operation of the industry continued In addition to small fluctuations in production, domestic sales continued to improve, exports grew steadily, investment growth was good, and corporate profits continued to grow.

From January to July, under the strong support of the continued recovery of international market demand, China’s clothing exports continued to maintain rapid growth on the basis of a high base in 2021, showing strong development resilience. From January to July, China’s exports of clothing and clothing accessories totaled US$99.558 billion, a year-on-year increase of 12.9%, and the growth rate was 0.9 percentage points faster than that from January to June.

But at the same time, the China National Garment Association stated that the rising risk of stagflation in the world economy has further increased the risk of weakening international market demand, and the continued economic recovery of China’s garment industry still faces challenges. Global inflation remains high, the risk of weakening demand in the international market is increasing, and the spread of domestic epidemics at multiple points is not conducive to normal production and operation of enterprises. China’s clothing exports will face greater pressure in the next stage. (End)

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