Retail sales of apparel and footwear in China by month 2022-2023
In October 2023, the retail trade revenue of clothing, shoes, hats, and knitwear in China amounted to around 120.7 billion yuan. This represented a 4.5 percent increase compared to the revenue generated in the same period of the previous year.
Nonetheless, the textile industry in China is facing a major transition period. The loss of competitive advantages such as low labor costs and a favorable exchange rate leads to a shift in the market focus. While basic textile production is outsourced to regions with lower costs, China focuses more on specialized textile and fiber products. In terms of target markets, the domestic textile market in China has been gaining importance compared to international markets as well. In 2021, China’s apparel market had reached three trillion yuan and was expected to exceed 4.2 trillion yuan by 2026.
Textile and apparel industry in China
The textile industry in China has seen a rapid growth over the past two decades and has become one of the main pillars of China’s economy. Throughout 2022, the monthly textile production in China ranged around three billion meters. With a textile export value of 146 billion U.S. dollars in 2021, China was the world’s largest textile exporter, accounting for around 41 percent of overall global textile exports. In 2021, clothing and clothing accessories with a total value of over 1.1 trillion yuan were exported from China, not taking into account the export of textile articles and textile yarns with a value of over 828 billion yuan. ANTA Sports Products, the leading textile and clothing manufacturer in China, reported total revenues of about 49.3 billion yuan in 2022.Nonetheless, the textile industry in China is facing a major transition period. The loss of competitive advantages such as low labor costs and a favorable exchange rate leads to a shift in the market focus. While basic textile production is outsourced to regions with lower costs, China focuses more on specialized textile and fiber products. In terms of target markets, the domestic textile market in China has been gaining importance compared to international markets as well. In 2021, China’s apparel market had reached three trillion yuan and was expected to exceed 4.2 trillion yuan by 2026.
