WAZIR APPAREL TRADE UPDATE APRIL 2024 APPAREL IMPORTS US EU UK JAPAN APPAREL RETAIL SCENARIO APPAREL EXPORTS INDIA GLOBAL MARKETS TRENDS CONSUMPTION INSIGHTS REPORT GLOBAL GLOBAL
NEW DELHI, INDIA
By IFAB MEDIA - NEWS BUREAU - April 22, 2024 | 360 1 minute read
Wazir presents the global apparel trade update report for April 2024, covering the latest available apparel consumption and import data for the US, EU, UK, and Japan, along with insights into India's apparel export and import.
Key Highlights:
The data continues to highlight lower consumption and imports in all major markets. This month's key highlights are:
Apparel import changes in February 2024:
- US imports: US$ 6.2 billion, showing no YoY change.
- EU imports: US$ 6.5 billion, down 10% YoY.
- UK imports: US$ 1.3 billion, down 19% YoY.
- Japan imports: US$ 1.7 billion, up 6% YoY.
Retail Scenario:
- US apparel store sales in Mar. 2024 are estimated to be 1% higher, while home furnishing store sales are estimated to be 11% lower than Mar. 2023.
- The US Consumer Confidence Index in Mar. 2024 dropped by 2% from the previous month. The inflation rate increased to 3.5% from 3.2% during the same period.
- UK apparel store sales in Mar. 2024 were £4.2 billion, which is the same as in Mar. 2023.
India's Apparel Trade:
- Apparel exports in Mar. 2024 are estimated to be US$ 1.5 billion, which is 2% lower than in Mar. 2023.
- Apparel imports in Feb. 2024 stood at US$ 121 million, which is 11% lower than Feb. 2023.
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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.
