WAZIR APPAREL TRADE UPDATE JUNE 2024 APPAREL IMPORTS US EU UK. JAPAN. APPAREL RETAIL SCENARIO APPAREL EXPORTS INDIA GLOBAL MARKETS TRENDS CONSUMPTION INSIGHTS REPORT GLOBAL NATIONAL GLOBAL
NEW DELHI, INDIA
By IFAB MEDIA - NEWS BUREAU - June 28, 2024 | 536 1 minute read
Wazir presents the global apparel trade update report for June 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 Imports (April 2024): Except UK, the imports were down for all the key markets
US: US$ 5.7 bn, down 2% YoY
EU: US$ 6.2 bn, down 2% YoY
UK: US$ 1.6 bn, up 14% YoY
Japan: US$ 1.8 bn, no change YoY
Declining imports also corroborates with the retailer inventory data (available up to Q1 2024), which shows an appreciable decrease in inventory levels compared to previous year. However, the US consumer confidence has increased by 5% from Apr 2024.
Apparel Exports (May 2024): Exports of India increased by 17% YoY
China: US$ 12.5 bn, no change YoY
Bangladesh: US$ 3.4 bn, down 17% YoY
India: US$ 1.4 bn, up 17% YoY
Apparel Retail Scenario:
US apparel store sales in May 2024 are estimated to be 1% lower than May 2023 and that of home furnishing store sales are estimated to be 4% higher.
UK apparel store sales in May 2024 were £ 3.7 bn., which is 3% lower than May 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.
