The home textile industry is one of the main sub-sectors of China ’s textile industry. From January to May 2020, affected by the COVID-19 pandemic, enterprises above designated size in the textile industry in our country achieved a total of 60.469 billion yuan in main business income, a year-on-year decrease of 16.49%; a total profit of 5.696 billion yuan, a year-on-year decrease of 0.59%. As the situation of China ’s pandemic prevention and control continues to improve, the domestic consumer market in the home textile industry has gradually recovered; however, as the pandemic spread globally, export markets have been hit hard.

1. From January to May, revenue fell by 16.49%, profit fell by 0.59%

As the domestic and international risks and challenges faced by the home textile industry have increased significantly, the growth momentum of the home textile industry has weakened. According to data, from January to May 2020, affected by the COVID-19 pandemic, enterprises above designated size in the textile industry in our country achieved a total of 60.469 billion yuan in main business income, a year-on-year decrease of 16.49%.

 

In terms of operating efficiency, the overall operation of the industry was stable. From 2015 to 2018, the total profits of enterprises in the textile industry in our country have maintained a growth trend; from January to May 2020, compared with the decline in main operating income, the decline in total profits has been greatly reduced. With the gradual and effective control of the domestic pandemic situation, enterprises above designated size achieved a total profit of 5.696 billion yuan, a year-on-year decrease of 0.59%.

 

2. The domestic market recovers steadily

In the first half of 2020, as China ’s pandemic prevention and control situation continues to improve, residents’ consumption activities increase and marketing models are innovated, the domestic consumer market in the home textile industry has gradually recovered. From January to May 2020, enterprises above designated size in the textile industry in our country achieved a total domestic sales output value of 42.623 billion yuan, and the decline has also narrowed with the recovery of domestic economic activities.

 

3. Exports were hit hard by the pandemic

Compared with the domestic market, export markets have been hit hard by the global spread of the pandemic. The data shows that from January to May 2020, the total export value of the home textile industry fell by 23.61% year-on-year to USD 10.758 billion, and the number of exported products fell by 22.12%.

 

From the perspective of major export markets, from January to May 2020, affected by the pandemic, China’s home textile exports to the EU fell the most; followed by the United States, which is the largest export market for our country’s textile products. Therefore, if the global pandemic is not significantly controlled or improved in the second half of the year, exports are still not optimistic.