China’s textile industry showed steady revenue growth in the first half of the year, official data showed.
Textile enterprises with annual main business income of at least 20 million yuan (regarding 3 million U.S. dollars) earned 2.52 trillion yuan in revenue in the first six months of 2022, up 5.7 % on an annual basis, according to the Ministry of Industry and Information Technology.
The total value added of these companies increased by 0.9% year-on-year during the period.
Combined sales of major retailers amounted to 8.12 trillion yuan in the January-June period, up 0.8 percent year on year. The country’s apparel exports totaled $156.5 billion, an increase of 11.7%.
But the data also showed a 17% year-on-year drop in total profits for these companies and a slight decline in the production of yarns, fabrics and garments. Employment in the textile sector also fell slightly.
