apparel | News & Insights

APPAREL TRADE SCENARIO IN KEY GLOBAL MARKETS & INDIA

Published: October 24, 2024
Author: TEXTILE VALUE CHAIN
  • 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, marking a 5-7% increase compared to 2023.
  • 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
  • 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.

Apparel_Trade_Scenario_in_Key_Global_Markets_and_India_Oct_2024

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