Japanese Textile And Apparel Import Demand Collapsed In First Quarter

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Japanese Textile And Apparel Import Demand Collapsed In First Quarter

According to the latest data, Japanese textile and apparel imports in March reached 216,500 tons, down by 2% year-on-year, while those from China were 105,300 tons, down by 4% year-on-year. In the first quarter, Japanese textile and apparel imports totaled 605,000 tons, down by 7.5% year-on-year; the volume from China totaled 286,000 tons, down by 13.1% year-on-year. As can be seen from the above, Japanese textile and apparel import demand weakened sharply in the first quarter of 2020, and the decline in the volume from China was larger than the total. Global textile and apparel industry has been greatly impacted by the accelerating outbreak. While the pandemic in China has been controlled and mills gradually returned to work, the global consumption and trade suffered comparatively in the epidemic spread outside China. Japan was no exception. China's share in Japanese textile and apparel import market gradually declined From the perspective of share, the proportion of China in Japanese textile and apparel import market has gradually declined in recent years, with the proportion of quantity falling to 47.2%, down 3% compared with the same period last year. The market shares of Vietnam, Indonesia, Thailand and Bangladesh have gradually increased, especially in Southeast Asia. In the first quarter, the main sources of Japanese textile and apparel are as follows. Although COVID-19 pandemic in China has been gradually controlled, foreign trade was greatly affected. The outbreak of the epidemic outside China was really a great shock to global consumption, and it is expected that Japanese textile and apparel import in April is still not optimistic. Bleak apparel sales and more non-essential businesses shuttered According to Reuters, H&M, Europe's largest clothing retailer, recently reported that sales value fell by 46% in March due to the impact of the pandemic, and it is expected that it will still suffer losses in the second quarter. Non-essential businesses were forced to shutter due to the Covid-19 outbreak, which created an equally staggering increase in cash, Gap, the US clothing giant, said on April 24. It has raked up US$ 1 billion since February and is expected to have only US$ 750 million left in its bank account by next week. Sales in the EU's branded apparel sector had fallen about 90% due to the Covid-19 outbreak. In addition to the support of the state, employees have gained economic support from employers, avoiding unemployment, but this is not a long-term solution. Similar reports continue to show that great impact has been made on end-users demand, and China's textile and apparel industry is also facing challenges.