Singapore's apparel imports from China dip slightly in 2023

Singapore's apparel imports from China totalled $474.767 million during January-October 2023, a figure slightly lower than the shipments recorded in the corresponding period of 2022. Nonetheless, China remained the largest apparel supplier to the partner country, commanding a market share of 25.70 per cent during the period under review. 

Recently, China signed an upgraded free trade agreement (FTA) with Singapore to further enhance bilateral trade and investment liberalisation. Both countries agreed to liberalise services and investment using a negative list approach, thereby expanding market opportunities for investors and service providers from both nations. 

During the first ten months of the current year, Singapore's total apparel imports were valued at $1,846.909 million. Of this, imports from China accounted for $474.730 million, representing 25.70 per cent of the total. China was the principal sourcing country for these imports, according to trade data obtained from Fibre2Fashion's market insight tool TexPro. 

The import figure was 1.71 per cent lower than the inbound shipment of $482.987 million recorded during January-October 2022. Last year, Singapore imported apparel worth $622.842 million, equating to 26.70 per cent of its total apparel import of $2,332.357 million. Previously, Singapore's apparel imports from China were $489.372 million in 2021, $644.068 million in 2020, and $587.654 million in 2019, as per TexPro. 

During January-October 2023, trousers and shorts dominated garment imports, comprising 15.25 per cent of Singapore's total garment imports from China. The country imported trousers and shorts worth $70.869 million during this period. Other significant imports from China included shirts at $55.781 million (12 per cent), T-shirts at $51.678 million (11.12 per cent), dresses at $34.590 million (7.44 per cent), and accessories at $30.996 million (6.67 per cent). 

ALCHEMPro News Desk (KUL)