China: Profitability of timber enterprises increased in 2018

March 11, 2019
Source:
ITTO/Fordaq
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According to China's National Statistics Bureau, profits made by industrial enterprises (with an output value of RMB 5 million plus) was RMB6,635 billion, a year-on-year increase of 10%.

Of 41 industries surveyed the profits of 32 rose and for 9 there was a decline in 2018. The annual operating incomes of furniture manufacturers in 2018 rose 4.5% to RMB708 billion and the annual profit of furniture manufacture in 2018 rose 4.3% to RMB43 billion.

The annual operating incomes of timber processors as a whole rose 2% in 2018 to RMB921 billion but profit levels fell 1.5%.

The costs of producing furniture in 2018 rose 3.8% to RMB590 while the cost of production in timber enterprises 2.2%.