APPAREL | Business & Policy | Import/Export

Apparel Trade Report – Key Global Markets and India

Published: August 28, 2023
Author: Fashion Value Chain

Report by Wazir Advisors

Summary:

Apparel Imports Update in Key Markets

USA:

  • In Jun 2023, US apparel imports were US$ 6.6 Bn. which is 23% lower than in Jun 2022. On YTD basis, the imports are 22% lower than in 2022.
  • China’s share in the US’ apparel import has reduced by 5% since 2021

EU:

  • EU apparel imports in Jun 2023 has decreased by 10% compared to Jun 2022 and were US$ 7.0 Bn in value. On YTD basis, the imports are 4% lower than in 2022.
  • In the EU apparel market, Bangladesh’s share witnessed an increase of 2% from 2021 while China’s share decreased by 3% in the same period.

UK:

  • UK apparel imports in Jun 2023 were US$ 1.9 Bn. which is 5% higher than in Jun 2022. On YTD basis, the imports in 2023 are 14% lower than in 2022.
  • In the UK apparel market, share of China have decreased by 6%, since 2021.

Japan:

  • In Jun 2023, Japan’s apparel imports were US$ 1.6 Bn. which is similar to that in June 2022. On YTD basis also, the imports have not changed.
  • In the Japan’s apparel market, China’s share was 51% while Vietnam’s share stood at 16% in 2023.

Retail Sales Update in Key Markets

  • In July 2023, US monthly apparel store sales are estimated to be US$ 18.2 Bn. which is 5% more than in July 2022. On YTD basis also, the sales in 2023 are 5% higher than in 2022.
  • In July 2023, US monthly home furnishing store sales are estimated to be US$ 4.7 Bn. which is 10% lower than in July 2022. On YTD basis, the sales were 1% lower than in 2022.
  • In Q2 2023, online sales of clothing and accessories registered a nominal growth of 1% over Q2 2022.
  • In July 2023, UK’s monthly apparel store sales were £ 3.7 Bn. which is 3% higher than in July 2022. On YTD basis, the sales were 9% higher than in 2022.
  • In Q2 2023, online sales of clothing registered a growth of 10% over Q2 2022.

Indian Apparel Exports Update

  • In July 2023, India’s apparel exports are estimated to be US$ 1.1 Bn., which is 21% lower than in July 2022 exports. On YTD basis, the exports were 15% lower than in 2022.
  • In India’s apparel export basket, UAE’s share has decreased by 6% since 2021 and that of USA has increased by 3%.

Apparel Imports Update in Key Markets

Indian Apparel Exports Update

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