Apparel Imports Fall in Key Markets

23 August 2023, Mumbai

Apparel Imports

In June 2023, apparel imports fell by 23% year-on-year to $6.6 billion in the US. China's share of the US apparel import market decreased by 5% since 2021.

In June 2023, apparel imports also declined by 10% year-on-year to $7.0 billion in the EU. Bangladesh's share of the EU apparel import market increased by 2%, while China's share decreased by 3% since 2021.

In June 2023, apparel imports in the UK rose by 5% year-on-year to $1.9 billion. China's share of the UK apparel import market decreased by 6% since 2021.

In June 2023, apparel imports in Japan were unchanged at $1.6 billion, both year-on-year and year-to-date. 

China held a 51% share of the Japanese apparel import market.

Retail Sales

In July 2023, US monthly apparel store sales increased by 5% year-on-year and year-to-date to $18.2 billion. 

Home furnishing store sales decreased by 10% year-on-year and by 1% year-to-date to $4.7 billion. Online sales of clothing and accessories grew by 1% in Q2 2023 compared to Q2 2022.

In July 2023, UK monthly apparel store sales increased by 3% year-on-year to £3.7 billion. Online sales of clothing grew by 10% in Q2 2023 compared to Q2 2022.

India's Apparel Exports; Exports decreased by 21% year-on-year to $1.1 billion in July 2023.

Key Takeaways

Apparel imports fell in the US, EU, and UK in June 2023, but remained unchanged in Japan.

China's share of apparel imports declined in all markets except Japan.

US apparel store sales increased in July 2023, while home furnishing store sales decreased.

UK apparel store sales increased in July 2023, and online sales of clothing grew.

India's apparel exports decreased in July 2023.

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