The apparel import values of Japan crossed US $ 23 billion in January to November 2022 period, noting 27 per cent Y-o-Y surge.
Analyzing data released by Ministry of Commerce, Japan, team Apparel Resources further found that it was weaker yen that contributes to the increased import values; however the growth can also be attributed to rising demand in the Japanese apparel market as, weight-wise, Japan’s import upped by 5.10 per cent on Y-o-Y basis.
The garments that were imported in the month of November ’22 came in the consumer market during December ’22 and the statistics of chain store sales showed significant growth of 7.50 per cent on Y-o-Y basis and 36.50 per cent on M-o-M basis.
The import trend is quite opposite to other major apparel markets where Y-o-Y growth is being recorded but imports are largely declined on monthly basis, especially in the last quarter of 2022.
As far as country-wise shipment to Japan is concerned, India, Bangladesh, Sri Lanka, China, and Vietnam grew both in weight-wise shipment as well as value-wise exports.
China, with US $ 13.10 billion export values, still constitutes around 55.76 per cent share in the total Japanese import values, while India (US $ 222 million) and Bangladesh (US $ 1.25 billion) contribute nearly 0.95 per cent and 5.31 per cent in the country’s apparel import values, respectively.
