The Financial Express

China's RMG industry reports lower revenue in first 10 months

| Updated: December 10, 2019 13:21:41

Lankabangla and Fianancial Express Lankabangla and Fianancial Express
File photo (Collected) File photo (Collected)

The revenue of China's ready-made garment (RMG) industry was lower in the first 10 months of the current year, said the Ministry of Industry and Information Technology (MIIT).

From January to October, the combined operating revenue of major garment enterprises each with an annual operating revenue of 20 million yuan (about 2.8 million US dollars) eased 0.2 per cent year on year to 1.31 trillion yuan, the MIIT data showed.

Meanwhile, profits of those enterprises shrank 3.4 per cent to 68.5 billion yuan from the same period in the previous year, reports Xinhua.

The output of the enterprises was down 0.8 per cent to a total of 20.3 billion pieces in the first 10 months of the year, according to the ministry.

During the same period, the exports of clothing and accessories edged down 4.5 per cent year on year to 127.2 billion US dollars, said the MIIT.


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