Output & profit of Chinese garment firms rise in Jan-Feb '21

13 Apr '21

1 min read

Pic: Azamat Imanaliev / Shutterstock.com

Showing further recovery, garment enterprises in China saw their output, revenue and profit grow in the first two months of the current year. Online retail sales and garment exports too rose during the period. However, the country's garment industry is yet to rebound to the pre-pandemic level, according to the ministry of industry and information technology.

The combined output of major garment enterprises in China during January-February 2021 increased by a sharp 38.4 per cent year-on-year to 3.4 billion pieces, according to the ministry data.

The combined operating revenue of 12,438 garment firms during the two-month period totalled 179.2 billion yuan ($27.4 billion), up 21.4 per cent year-on-year, the official data showed. Total profits of these companies too jumped 42.8 per cent from a year ago to 7.8 billion yuan.

Meanwhile, online retail sales of clothing products in China increased by a sharp 44.3 per cent year-on-year in the first two months of the current year.

During the period, garment exports fetched $24 billion for the country, a rise of 50 per cent year-on-year.

Fibre2Fashion News Desk (RKS)

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