Analysis On The Current Situation Of Domestic Textile Industry In 2020

Home textile industry is one of the main subdivision industries in China's textile industry. From January to may 2020, affected by the new coronary pneumonia epidemic, enterprises above Designated Size in China's national textile industry realized a total of 60.469 billion yuan of main business income, a year-on-year decrease of 16.49%, and a total profit of 5.696 billion yuan, a year-on-year decrease of 0.59%. With the continuous improvement of China's epidemic prevention and control situation, the domestic consumer market of home textile industry has gradually recovered; however, with the spread and outbreak of the epidemic in the world, the overseas export market has been hit hard.

1. From January to may, revenue decreased by 16.49% and profit decreased by 0.59%

As one of the main subdivided industries of China's textile industry, the growth momentum of home textile industry is weakened with the obvious increase of domestic and foreign risk challenges faced by the industry. According to the data, from January to may 2020, affected by the outbreak of new coronary pneumonia, enterprises above Designated Size in China's home textile industry realized a total of 60.469 billion yuan of main business income, a year-on-year decrease of 16.49%.

In terms of operating efficiency, the industry has been running smoothly as a whole. From 2015 to 2018, the total profit of domestic textile enterprises above the designated size has maintained a growth trend; from January to may 2020, compared with the decrease of main business income, the decrease rate of total profit is greatly reduced. Thanks to the gradual and effective control of domestic epidemic situation, the total profit of enterprises above designated size has achieved a total of 5.696 billion yuan, a year-on-year decrease of 0.59%.

2. Steady recovery of domestic market

In the first half of 2020, with the continuous improvement of epidemic prevention and control situation in China, the increase of consumer activities and the innovation of marketing mode, the domestic consumption market of home textile industry will gradually recover. From January to may 2020, the domestic sales output value of domestic textile enterprises above Designated Size will reach 42.623 billion yuan, and the decline rate will narrow with the recovery of domestic economic activities.

3. Overseas exports hit hard by the epidemic

The global market has been hit hard by the spread of the epidemic in the domestic market. In 2020, the total export volume of textile industry decreased by 22.5% to 12.56 billion US dollars, showing a decrease of 1.58% in 2020.

From the perspective of major export markets, from January to may 2020, China's domestic textile export volume and export volume to the European Union decreased the most, due to the serious impact of the epidemic situation; followed by the United States, which is China's largest export market for home textile products, is also the country with the most serious epidemic situation. Therefore, on the whole, if the global epidemic situation is not significantly controlled or improved in the second half of the year, the industry export is still not optimistic.

The above data is from the analysis report on the development prospect forecast and investment strategic planning of China's home textile industry by forward looking Industry Research Institute. Meanwhile, forward looking Industry Research Institute provides industrial big data, industrial planning, industrial declaration, industrial park planning, industrial investment promotion and other solutions.