WAZIR APPAREL TRADE UPDATE MARCH 2024 APPAREL IMPORTS US EU UK JAPAN APPAREL RETAIL SCENARIO APPAREL EXPORTS INDIA GLOBAL MARKETS TRENDS CONSUMPTION INSIGHTS REPORT GLOBAL
NEW DELHI, INDIA
By IFAB MEDIA - NEWS BUREAU - April 1, 2024 | 346 1 minute read
Wazir presents a comprehensive report on the latest apparel consumption and import trends across key global markets, including the US, EU, UK, and Japan, along with insights into India's apparel export and import scenario.
Key Highlights:
Apparel Imports in January 2024:
- US imports: Recorded at US$ 6.1 billion, marking a decline of 16% YoY.
- EU imports: Totaled US$ 6.6 billion, reflecting a 20% YoY decrease.
- UK imports: Stood at US$ 1.4 billion, down by 18% YoY.
- Japan imports: Amounted to US$ 1.9 billion, showing a decline of 14% YoY.
Apparel Retail Scenario:
- US apparel store sales in Feb. 2024 reached US$ 15.8 billion, reflecting a 10% increase compared to Feb. 2023.
- US home furnishing store sales in Feb. 2024 totaled US$ 4.2 billion, showing a significant 22% decrease from Feb. 2023.
- The US Consumer Confidence Index in Feb. 2024 decreased by 7% compared to the previous month, while the inflation rate rose to 3.2% from 3.1% during the same period.
- UK apparel store sales in Feb. 2024 amounted to £3.0 billion, down by 3% from Feb. 2023.
India's Apparel Trade:
- Apparel exports in Feb. 2024 were estimated at US$ 1.4 billion, indicating a 1% increase compared to Feb. 2023.
- Apparel imports in Jan. 2024 stood at US$ 109 million, marking a decline of 23% compared to Jan. 2023.
This report provides valuable insights into the global apparel trade landscape, aiding businesses in making informed decisions and strategies.
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Varun Vaid, Business Director, Wazir Advisors Varun possesses more than 20 years of experience in textile sector covering manufacturing, marketing and consulting domains. As a strategy consultant, he has led diversified projects for private companies, government bodies and development agencies in Asia and Africa. |
Wazir Advisors Over the years Wazir has placed itself as a premier Indian consulting organization with a special focus on textile and apparel value chain. Our team of textile engineers, sector experts, management graduates and economists have executed a broad range of consulting projects working for reputed Indian and international clients. Wazir has partnered with ITA Germany, an international research institute under RWTH University, Aachen, for offering sustainability and digitalization solutions to textile and apparel players in India and other South Asian countries. With combined expertise, Wazir- ITA can be your solution provider in the shift towards a sustainable future.
