According to Wazir Consulting’s June 2023 “Apparel Trend Scenarios in Major Global Markets and India” report, Japan’s apparel imports in April were $1.8 billion, 6% higher than April 2022. Imports from January to April this year were 4% higher than the same period in 2022.
Among Japan’s clothing imports, Vietnam’s market share increased by 2%, while China’s market share fell by 7% compared with 2021. From January to April 2023, China was Japan’s largest clothing supplier, still accounting for more than half of total imports, at 51%. During this period, Vietnam supplied only 16%, Bangladesh and Cambodia accounted for 6% and 5% respectively.
U.S. apparel imports fall, retail sales rise
In April 2023, the U.S. economy was in turmoil, many banks collapsed, and the national debt was in a state of crisis. As a result, apparel imports in April were $5.8 billion, down 28% from April 2022. Imports from January to April this year were 21% lower than the same period in 2022.
Since 2021, China’s share of the U.S. apparel import market has dropped by 5%, while India’s market share has increased by 2%. In addition, U.S. apparel imports performed slightly better in April than in March, with China accounting for 18% and Vietnam accounting for 17%. The U.S. offshore procurement strategy is obvious, with other supplier countries accounting for 42%. In May 2023, monthly sales at U.S. apparel stores were estimated at $18.5 billion, 1% higher than in May 2022. From January to May this year, U.S. apparel retail sales were 4% higher than in 2022. U.S. furniture sales in May 2023 were down 9% from May 2022. In the first quarter of 2023, U.S. online apparel and accessories sales increased 2% from the first quarter of 2022 and dropped 32% from the fourth quarter of 2022.
The situation in the UK and EU is similar to that in the US
In April 2023, UK clothing imports were US$1.4 billion, a 22% decrease from April 2022. From January to April 2023, the value of British clothing imports decreased by 16% compared with the same period in 2022. Since 2021, China’s share of British clothing imports has dropped by 5%, and China’s current market share is 17%. Like the United States, the United Kingdom is also expanding its buying scope, as other countries accounted for 47%.
The degree of diversification of EU clothing imports is lower than that of the United States and the United Kingdom. Other countries accounted for 30%, and China and Bangladesh accounted for 24%. China’s share decreased by 6%, and Bangladesh increased by 4%. Compared with April 2022, the EU’s clothing imports fell by 16% in April 2023 to US$6.3 billion. From January to April this year, EU clothing imports increased by 3% year-on-year.
In terms of e-commerce, in the first quarter of 2023, online sales of EU clothing increased by 13% compared with the same period in 2022. In April 2023, monthly sales of UK clothing stores were £3.6 billion, 9% higher than in April 2022. From January to April this year, UK clothing sales were 13% higher than in 2022.
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