The apparel import values of Japan crossed $23 billion in January to November 2022 period, noting a 27% Y-o-Y surge.
According to the media reports analyzing data released by the Ministry of Commerce, it was found that the weaker yen contributed 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% on Y-o-Y basis.
The garments that were imported in the month of November’22 came into the consumer market during December’22 and the statistics of chain store sales showed significant growth of 7.50% on a Y-o-Y basis and 36.50% on an 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 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 a $13.10 billion export value, still constitutes around 55.76% share in the total Japanese import values, while Bangladesh ($1.25 billion) and India ($222 million) contribute nearly 5.31% and 0.95% in the country’s apparel import values, respectively.
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