China’s textile sector reports 3.1% YoY revenue growth in Jan-Sept

The overall value-added output of China’s main textile companies saw a 0.4-per cent decrease on a YoY basis in the first three quarters of 2022.

Chinese textile companies with an annual main business revenue of at least 20 million yuan earned a total revenue of 3.86 trillion yuan in the first nine months of this year, up 3.1 per cent on a YoY basis, according to the ministry of industry and information technology. Overall, China’s textile sector saw stable growth in the first three quarters of 2022.

China’s textile and garment exports stood at $248.4 billion in the same period, 9.1 per cent up year on year (YoY), according to Chinese media reports. Furthermore, the combined sales of China’s main retailers were reported as 12.38 trillion yuan for the first nine months of 2022, 3 per cent up from the year-ago period.

Fibre2Fashion News Desk (DP)