China's garment industry reports lower revenue in first 2 months

Operating revenue of China's garment industry dipped 28.14 percent year on year in the first two months, data from the Ministry of Industry and Information Technology on showed.

In the January-February period, the combined operating revenue of major garment enterprises each with an annual operating revenue of 20 million yuan (US$2.8 million) stood at 148.8 billion yuan.

Profits of those enterprises plunged by 42.14 percent to 5.5 billion yuan from the same period in the previous year.

The output of the enterprises was 36.61 percent lower to a total of 2.5 billion pieces during the period, the MIIT data showed.

In the first two months, the exports of clothing and accessories contracted by 20 percent from the same period last year to 16 billion U.S. dollars, said the MIIT.