-By Mansi Suryavanshi
INSIGHTS
- Japan’s garment imports from Bangladesh increased by 15.02% to $1.34 billion in 2022, despite the fact that the global export demand remained negative in H2 2022 as a result of the Russia-Ukraine crisis and rising inflation.
- Through Q1 2023, this rising tendency was steady.
- Bangladesh rose to third place among garment suppliers to Japan with a 5.37 percent market share.
- The biggest suppliers were China and Vietnam.
Due to the Russia-Ukraine war and rising inflation in the developed countries, global export demand remained negative in the second half of 2022. But Japan rejected the trend by importing clothing from Bangladesh. In comparison to the prior year, imports rose by 15.02 percent to $1,340.256 million last year. The rising trend persisted during the first three months of the current year as well.
According to TexPro, a market research tool from Fibre2Fashion, the amount of clothing imported into Japan from Bangladesh climbed from $1,165.457 million in 2021 to $1,340.256 million in 2022. Compared to 2018, the import increased to $1,167.965 million in 2019. However, COVID-19 caused a decrease of $1,033.232 million in 2020.
In comparison to shipments of $333.741 million in Q4 2022 and $354.094 million in Q1, 2022, the import jumped to $363.939 million in Q1 2023. The trade remained erratic, dropping to $295.432 million in the second quarter of 2022 but rising to $358.277 million in the third. According to TexPro, it further decreased to $333.741 million in Q4, 2022.
Additionally, the amount of fabric imported from Bangladesh climbed from $1,108.184 million in 2021 to $1,733.501 million in 2022. Prior to this, it was mentioned as being worth $1,689.953 million in 2020, $1,843.536 million in 2019, and $2,841.596 million in 2018.
Bangladesh was Japan’s third-largest garment supplier, according to TexPro. However, their part of Japan’s total 2022 clothing imports, which totaled $24.953 billion, was only 5.37 percent. Vietnam came in second with a share of 15.85% of the total incoming shipment, trailing China as the biggest provider (55.32%).
