by Apparel Resources News-Desk
23-April-2019 | 2 mins read
After starting year 2019 on a positive note, Japan unexpectedly tumbled in its apparel imports during February. In Jan ’19, Japan imported apparels worth US $ 2,441.69 million, while the total apparel import valued at US $ 2,010.08 million in Feb ’19, falling 17.67 per cent on M-o-M basis.
The decline was mainly caused by two top exporters to Japan – China and Vietnam – which fell tremendously by 27 per cent and 21.13 per cent on monthly note, respectively. Chinese apparel shipment to Japan stood at US $ 1,056.77 million in February as against US $ 1,447.90 million in January, while Vietnam shipped apparels to Japan worth US $ 292.87 million in February as compared to US $ 371.33 million in January this year.
On the other hand, India tapped substantial growth by 47 per cent to export US $ 32.39 million worth of apparels to Japan, surpassing its January’s figure which stood at just US $ 22 million. Bangladesh remained stagnant in its export figures and could manage to grow marginally by 1.66 per cent on monthly note. The apparel shipment in February valued at US $ 98.90 million which, by no means, can be said major positive turnaround seeing January’s exports figures (US $ 97.28 million).
The apparel shipping data to Japan signals the weakening demand in the Japanese apparel market. Additionally, the slowdown in exports from China and Vietnam was seen possibly due to the Chinese and Vietnamese New Year holidays as the factories remain closed during the festival. The buyers already knew about normal slowdown during New Year holidays so they stockpiled apparel goods in December itself to avoid any sort of crisis in next two months.
India, on the other hand, could grab the shift of orders coming from China and Vietnam during January and February which is possibly a short-term shift. It will be interesting to see how things take a turn for all four countries in the upcoming months.
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