Japan's textile & clothing imports rise 27.5% to $1.87 bn in Feb 2024

The country had witnessed a decline in clothing imports in the past several months until January 2024. The impressive growth in imports indicates better retail demand in the country and a lower base in the same month of the previous year.

The country also saw an 11.5 per cent year-on-year gain in its textile yarn and fabric imports in February 2024, totalling 83,269 million yen, which accounted for 1.0 per cent of the total imports.

While Japan's exports of textile yarn and fabric increased by 3.4 per cent compared to the same month of the previous year, reaching 61,748 million yen, the exports of textile machinery dropped by 10.4 per cent in February 2024, amounting to 24,330 million yen, contributing 0.3 per cent to the total exports.

In 2023, Japan experienced a modest 1.1 per cent increase in imports of clothing and accessories, reaching a total of 3,538,460 million yen (approximately $23.937 billion), constituting 3.2 per cent of its total imports, which amounted to 110,177,932 million yen. Conversely, Japan saw a notable decline of 7.9 per cent in imports of textile yarn and fabric, amounting to 1,162,088 million yen. On the export front, there was a slight uptick of 2.5 per cent in textile yarn and fabric exports, totalling 785,570 million yen. Furthermore, the export of textile machinery surged impressively by 9.1 per cent, amounting to 328,832 million yen over the same period.

During the fiscal 2022-23 (April to March), Japan's imports of clothing and accessories were 3,619,550 million yen (approximately $25.05 billion), marking a growth of 26.1 per cent. The imports of textile yarn and fabric had risen by 23.2 per cent to 1,275,608 million yen. During the same fiscal, Japan exported textile yarn and fabric valued at 776,999 million yen, while textile machinery exports amounted to 306,781 million yen.

ALCHEMPro News Desk (KUL)