According to the latest data released by Ministry of Finance, Japan, the country has continued seeing monthly growth in its RMG imports and its import surged 40.93 per cent during July ’20 as compared to June ’20.
Japan imported 212.98 billion yen (US $ 2 billion) worth of garments in July ’20, whereas the import value was just 151.13 billion yen (US $ 1.43 billion) in June ’20.
All major Asian manufacturing countries such as China, Vietnam, Bangladesh and India tapped significant growth in their monthly shipment to Japan in the 7th month of 2020.
China accounted for 113.82 billion yen (US $ 1.07 billion) of total RMG imports of Japan during July ’20, marking 43.14 per cent growth over June ’20. It’s worth mentioning here that China was the only country among all four hubs mentioned above which fell in June ’20 over May ’20 by 6.75 per cent. July ’20 figures show China is bouncing back in its apparel trade.
Vietnam, the second largest apparel shipper to Japan, noted 43.50 per cent monthly surge in July ’20 over June ’20 and shipped 26.12 billion yen (US $ 245.78 million) worth of garments to Japan.
As far as Japan’s RMG import from Bangladesh is concerned, it upped by 45.63 per cent on M-o-M basis in July ’20 and valued 9.33 billion yen (US $ 87.82 million).
Japan’s import from India valued 2.12 billion yen (US $ 20 million) in July ’20 which is 9.25 per cent higher than the value it clocked in June ’20.
However, as compared to July ’19, all the countries still remained negative in their respective.
RMG exports to Japan. Japan’s Y-o-Y fall as compared to July ’19 in July ’20 was 45.18 per cent. China, Vietnam, Bangladesh and India fell in their exports to Japan in July ’20 on Y-o-Y basis by 46.23 per cent, 44.95 per cent, 34.73 per cent and 20.64 per cent, respectively.