The Global Garment Industry Is Worsening.
The worsening of the secondary issue has greatly compromised western countries' confidence in the economic outlook and led to a sharp decline in consumption in Europe and the United States. According to the economist's Economist Intelligence Unit (EIU) estimates, the US cotton use material fell 6.5% from last year to less than 1 million tons, while the EU fell 11% to only 460 thousand tons.
US cotton usage dropped by 6.5%
The high price of oil and raw materials, and the price of fertilizer continue to go up. The cost of garment enterprises in Europe and the United States has increased greatly, and the price of shipping export has been increased. In addition, the problem of garment manufacturers in the United States has made it difficult for them to get financing.
Chinese textile enterprises "can only prop up more than anyone else".
Clothing, textile enterprises in China, India and Southeast Asia are also deeply hurt. Especially in China, the introduction of the new labor law has increased the cost of human resources, coupled with the continued appreciation of the RMB. The profit of garment enterprises has only about 5% left. There is a manufacturer's point of view: "every 1% increase in the exchange rate, our profits will be reduced by 1%". Just now, the textile and clothing exhibition area of Lian gang was also hit by cold front, and the deal was withered. The exporter even sighed with regret: "no one can earn more than anyone else."
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