A Brief Analysis of the Economic Operation of Shanghai Textile and Garment Industry in the First Half of 2010
In the first half of 2010, Shanghai’s textile and garment industry experienced a revitalized economic growth trend, driven by several key factors. These included a well-established export market for regional textiles, increased demand in certain domestic markets, and a renewed focus on quality within the industry. By the end of June 2010, over 2,000 enterprises in the textile sector were operating normally, an increase of 76 compared to the previous year. The number of employees in the industry stood at 300,000, marking a 5.1% decrease year-on-year. Specifically, the textile and clothing production sector had 1,099 enterprises, with 39 added back to consumer enterprises. At the end of June, the workforce in this segment reached 186,000, down 5.4% from the same period in 2009.
Consumption and sales both showed positive trends during the first half of 2010. The total industrial consumption value for Shanghai’s textile industry reached 38.63 billion yuan, up 7.8% year-on-year. Among these, the textile and garment manufacturing sector contributed 20.86 billion yuan, representing a 2.7% increase. This sector accounted for 54% of the total textile industry output. In the second quarter, consumption figures improved further, with total industrial consumption reaching 20.59 billion yuan, up 14.1% from the first quarter and 11% year-on-year. The textile and garment manufacturing sector saw 10.73 billion yuan in industrial consumption, rising 5.8% from the previous quarter and 6.6% year-on-year.
When adjusted for comparable values, the total industrial consumption for the first half of 2010 was 40.0 billion yuan, up 6.6% year-on-year. The textile and apparel production industry achieved 20.67 billion yuan, reflecting a 1.7% increase. Sales figures also rose, with the total production value for the textile industry reaching 20.21 billion yuan, up 10.6% from the previous period and 13.3% year-on-year. The production and sales ratio for the first half of the year was 99.6%, an increase of 1.8% year-on-year, with the textile and apparel production industry achieving a 99.9% ratio, up 3.4% year-on-year.
Home textiles remained agile in the finished goods segment, contributing 6.87 billion yuan in industrial consumption, a 19.7% increase year-on-year. However, the production and sales ratio for this segment declined slightly, standing at 97.7%. Despite global economic uncertainties, including the European debt crisis and a sluggish U.S. economy, China’s export trade began showing signs of recovery. Shanghai’s textile industry exported 10.8 billion yuan worth of goods in the first half of 2010, a 0.7% increase year-on-year, with an export rate of 28.1%, down 8.3% from the previous year. The textile and garment manufacturing sector led exports, accounting for 63.1% of the industry's total exports.
The "Expo economy" in Shanghai significantly boosted the industry’s main business operations, helping companies recover and improve performance. Main business expenses for enterprises above the scale reached 39.24 billion yuan, up 16.3% year-on-year. The second quarter alone saw 20.45 billion yuan in expenses, a 20% increase from the previous year. The textile and garment production industry recorded 20.84 billion yuan in expenses, up 12% year-on-year.
Despite these gains, challenges remain. Fluctuating raw material prices and increasing uncertainty pose risks to future development. Additionally, the rise of international brands has intensified competition, pushing domestic manufacturers to innovate and enhance their outdoor and creative apparel offerings. The asset-liability ratio for enterprises above the scale in the textile industry stood at 51.2% as of June 2010, with total assets reaching 81.58 billion yuan and liabilities at 41.75 billion yuan. The textile and garment manufacturing sector had a debt-to-equity ratio of 54.4%, up 1.9% year-on-year.
Profitability also improved, with the total asset profit margin reaching 2.65%, a 66.8% increase year-on-year. The second quarter saw a 1.46% margin, up 16.5% from the previous quarter. The textile and garment sector maintained strong profitability, with a 3.3% total asset profit margin, although it dropped slightly month-on-month.
Overall, the Shanghai textile industry experienced a period of renewal and growth in 2010, bringing new vitality to the city’s fashion and textile culture. While challenges persist, the industry is expected to continue its recovery and structural optimization in the second half of the year. It is projected that the total industrial consumption will reach around 82 billion yuan in 2010, with the textile and garment production industry reaching approximately 46 billion yuan and total profits estimated at around 14.5 billion yuan.
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