Wazir presents the global apparel trade update report for July 2024 . This report provides an overview of the latest apparel consumption and trade data for major supplier and buyer nations.

This month’s key highlights are:

• Apparel Imports: In August 2024, key markets demonstrated a mixed performance.

• US: US$ 7.8 bn, no change YoY
• EU: US$ 9.0 bn, up 10% YoY
• UK: US$ 1.7 bn, down 6% YoY
• Japan: US$ 2.2 bn, down 8% YoY

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• Apparel Exports:

• China: US$ 13 bn, down 5% YoY
• India: US$ 1.1 bn, no change YoY

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• Total Indian apparel exports are expected to reach US$ 15 billion in 2024, marking a 5-7% increase compared to 2023.

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• Apparel Retail Scenario:

• US apparel store sales in September 2024 are estimated to be 1% higher than September 2023 and home furnishing store sales are estimated to be 15% higher
• UK apparel store sales in September 2024 were £ 4.5 bn., which is 5% higher than in September 2023

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• In September 2024, the US recorded its lowest inflation rate since February 2021 at 2.4%. The unemployment rate decreased by 0.1% from last month. However, the Consumer Confidence Index declined by 4% depicting a mixed market reaction.