UK's textile imports decline in March; clothing down 23% to $1.4 bn

Imports of textile fabric in March 2024 fell by 10.95 per cent to £439 million, compared with £493 million in March 2023. There was a month-on-month increase from February 2024's £412 million. Meanwhile, the UK's fibre imports in March 2024 were £28 million, a decrease from March 2023's £37 million, but an increase from February 2024's £27 million.

During the first quarter of 2024, the UK's clothing imports totalled £3.265 billion, which was 20.57 per cent lower than the import of £4.111 billion in the first quarter of 2023. The inbound shipment was also lower than the imports of £3.714 billion in the fourth quarter of 2023. Fabric imports were noted at £1.274 billion, and textile fibres at £83 million in January-March 2024. The import of fabric and textile fibres was noted at £1.422 billion and £113 million in the corresponding period of 2023.

In 2023, the UK's clothing imports reached £15.702 billion, down 25.94 per cent from the inbound shipment of £21.203 billion in 2022. The imports of fabric and textile fibres were noted at £5.547 billion and £413 million in 2023, down from £6.357 billion and £562 million in 2022, respectively. The imports of clothing, fabric, and textile fibres were recorded at £17.034 billion, £5.996 billion, and £458 million, respectively, in 2021.

As for exports, the UK's clothing sector generated £279 million in March 2024, down from £338 million in March 2023. The figure for February 2024 was £265 million. The exports of textile fabric in March 2024 dipped to £235 million, compared with £254 million in March 2023. There was a month-on-month decrease from February 2024's £239 million. The UK's fibre exports in March 2024 were £53 million, a decrease from March 2023's £61 million, and down from February 2024's £58 million.

During the first quarter of 2024, clothing exports totalled £833 million, against the shipment of £951 million in Q1 2023 and £987 million in Q4 2023. The outbound shipments of textile fabric and fibre were noted at £697 million and £162 million in the first quarter of 2024.

In 2023, clothing exports decreased to £3.772 billion from £3.931 billion in 2022 and £4.263 billion in 2021. Exports of textile fabrics and fibres in 2023 were £2.737 billion and £667 million, respectively. Exports of textile fabrics and fibres in 2022 were noted at £2.716 billion and £616 million, respectively.

ALCHEMPro News Desk (KUL)