An overview of the latest apparel consumption and trade data for major supplier and buyer nations.
Snapshot: Monthly tracker
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
Apparel Exports:
China: US$ 13 bn, down 5% YoY
India: US$ 1.1 bn, no change YoY
Total Indian apparel exports are expected to reach US$15 billion in 2024, a 5-7% increase from 2023.
Apparel Retail Scenario:
US apparel store sales in September 2024 are estimated to be 1% higher than in September 2023 and home furnishing store sales are estimated to be 15% higher
UK apparel store sales in September 2024 were £ 4.5 bn., 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.
Last month’s trade data indicated recovery was on the horizon, but the latest appears to be mixed.
CREDITS: Wazir Advisors apparel trade monthly update.