China exports $80 billion worth of clothing
Al Anbat - Rahaf Qawasmi
Official figures
issued by the Chinese Ministry of Industry and Information Technology showed an
increase in the value of Chinese exports of clothing and accessories by 12
percent to reach $80.2 billion in the first half of 2022.
The ministry said
that the Chinese garment industry recorded stable growth in its revenues and
profits in the first half of 2022.
In the first six
months of the year, 13.000 major garment enterprises achieved a 4.5 percent year
on year increase in their consolidated revenue, reaching 688.5 billion yuan
(about 102 billion US dollars).
The combined
profits of these companies reached 30.7 billion yuan in the January-June period,
up 4 percent year on year.
The proportion of
loss-making companies in this industry decreased by 0.9 percentage points,
accounting for 27 percent of the total.
At the same time,
the production volume of these companies decreased by 1.5 percent year on year,
to 11.3 billion pieces.