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As China's share of the textile and apparel industry declines, which countries are seizing it?

Release time:

2023-09-07 14:37

As the global epidemic continues to escalate, the apparel industry has been hit hard, with sales falling off a cliff and imports from mainstream markets dropping sharply. In the first four months of this year, imports of clothing from the United States and Japan decreased by 18% and 8% respectively, and imports of clothing from the European Union decreased by 15% in the first three months.

China's share of the U.S., Japanese, and EU markets decreased by 8, 3, and 2 percentage points, respectively...who took the share?

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Vietnam: emerged as the biggest winner, with increases in both mainstream market shares. In the first four months, Vietnam's apparel exports to the United States were basically flat, while apparel exports to Japan increased by 6.6%. In particular, Vietnam's share of the US market is straight ahead of China's, with a difference of only 2 percentage points.

Bangladesh: the harvest is not small. In the United States clothing imports as a whole fell 18% of the situation, Bangladesh's exports to the United States actually increased by 2%.

Cambodia: Although limited in size, garment exports to the United States grew at an impressive rate of 19 percent in the first four months. Exports to Japan also remained flat, up 0.7%.

Myanmar: Exports have been relatively unaffected by the epidemic and are the only exporter to maintain growth to all three major markets. In the first three months, garment exports to the European Union grew by 15.4%, in the first four months exports to Japan grew by 16.1%, and exports to the United States grew by as much as 46%.

U.S., Japan and Europe apparel imports, January-April

►United States of America

From January to April 2020, the United States imported $24 billion in apparel, a year-on-year decline of 17.9%; from China imported $4.86 billion in apparel, a year-on-year decline of 41.4%. China's share of U.S. apparel imports was 20.3%, ranking first, down 8.1 percentage points year-on-year.

The second through fifth largest suppliers of U.S. apparel imports are:

Vietnam: $4.29 billion, down 0.7 percent year-on-year; share of 17.9 percent, up 3.1 percentage points year-on-year;

Bangladesh: $2.08 billion, up 2.1 percent year-on-year; share of 8.7 percent, up 1.7 percentage points;

Indonesia: $1.53 billion, down 8 percent year-on-year; share of 6.4 percent, up 0.7 percentage points year-on-year;

India: $1.43 billion, down 12.4 percent year-on-year; share of 5.9 percent, up 0.4 percentage points year-on-year.

►Japanese

January to April, Japan imported clothing 8.92 billion U.S. dollars, down 7.6% year-on-year; from China imported clothing 4.75 billion U.S. dollars, down 12.5% year-on-year. China accounted for Japan's share of imports of clothing for 53.2%, ranking first, down 3 percentage points year-on-year.

The second to fifth largest suppliers of Japanese apparel imports are:

Vietnam: $1.44 billion, up 6.6 percent year-on-year; share of 16.2 percent, up 2.2 percentage points;

Bangladesh: $440 million, down 1.3 percent year-on-year; share of 4.9 percent, up 0.3 percentage points year-on-year;

Cambodia: $410 million, up 0.7 percent year-on-year; share of 4.6 percent, up 0.4 percentage points year-on-year;

Myanmar: $390 million, up 16.1 percent year-on-year; share of 4.4 percent, up 0.9 percentage points year-on-year.

►EU

From January to March, the EU imported 22.19 billion U.S. dollars of clothing, down 9% year-on-year; from China imported 5.84 billion U.S. dollars of clothing, down 14.6% year-on-year. China accounted for 26.3% of the EU share of imports of clothing, ranking first, a year-on-year decrease of 1.7 percentage points.

The second to fifth largest suppliers of EU clothing imports are:

Bangladesh: $4.44 billion, down 5.2 percent year-on-year; share of 20 percent, up 0.8 percentage points year-on-year;

Turkey: $2.45 billion, down 5.2 percent year-on-year; share was 11 percent, up 0.4 percentage points;

India: $1.31 billion, down 9.5% year-on-year; share of 5.9%, down 0.04 percentage points year-on-year;

U.K.: $1.03 billion, down 26% year-on-year; share of 4.6%, down 1.1 percentage points year-on-year.

U.S. retail apparel sales jump 188% in May from a year earlier, down 63% from a year earlier

The U.S. Department of Commerce released U.S. retail sales data for May on June 16th. The statistics show that following consecutive year-on-year declines of 8.3% and 14.7% in March and April, U.S. retail sales stabilized as commerce reopened, rising 17.7% in May, but still down 6.1% year-on-year.

Clothing and clothing accessory stores were up 188% YoY and down 63.3% YoY (down 50.5% and 78.8% YoY in March and April, respectively).

Last month's rebound came against the backdrop of an economy that may be beginning a slow and prolonged recovery.In May, U.S. employers added 2.5 million jobs, an unexpected gain that suggests the job market has bottomed out.

Retail research firm Coresight Research expects between 20,000 and 25,000 stores to close in the U.S. this year, with about 60 percent of them in shopping centers. That number is higher than the 15,000 store closures the firm estimated by mid-March and would top last year's record 9,000 store closures.

Retail research firm Coresight Research expects between 20,000 and 25,000 stores to close in the U.S. this year, with about 60 percent of them in shopping centers. That number is higher than the 15,000 store closures the firm estimated by mid-March and would top last year's record 9,000 store closures.

  China to Replace U.S. as Largest Ready-to-Wear Market

  China is expected to replace the US as the world's largest readymade garment market by 2023, according to industry experts.

   According to GlobalData retail analyst Vijay Bhupathiraju, door-to-door sales in the superpower China have returned to 80-100% of pre-New Crown outbreak trading levels.

GlobalData previously predicted that the new crown epidemic would lead to a $297 billion loss in the global ready-to-wear market in 2020, down 15.2% from 2019. The U.S. (the largest ready-to-wear market) will account for 42% of all consumer losses, leading to more Chapter 11 bankruptcy filings by well-known chain brands in the coming months. On the other hand, the Asia-Pacific market is expected to be in the best position to cope with the impact of the new crown outbreak compared to its US and European counterparts, which are driven by domestic demand growth.

In dollar terms, the ten hardest hit markets globally would account for 85% of all losses, with mature markets being the hardest hit.

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