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Home News Global Apparel Trade & Retail Update: January 2025

Global Apparel Trade & Retail Update: January 2025

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Global Apparel Trade & Retail Update: January 2025

The global apparel market has shown notable trends in both imports and exports for major supplier and buyer nations. As of November 2024, the US and EU continued to see growth in apparel imports, while Japan experienced a decline. Key data from the apparel exports sector reveals a mixed performance, with China and India seeing positive growth, while Bangladesh faced a decline. Additionally, the US retail scenario experienced increased apparel and home furnishing sales, despite the backdrop of a weaker macroeconomic environment signaling potential challenges ahead.

Let’s dive into the details of this month’s report and explore the key highlights! 📊👗

  • In November 2024, apparel imports continued to grow in the US and EU, remained stable in the UK, and declined in Japan.
    • US: US$ 6.0 bn, up 15% YoY
    • EU: US$ 7.3 bn, up 3% YoY
    • UK: US$ 1.7 bn, no change YoY
    • Japan: US$ 1.8 bn, down 5% YoY
  • Apparel Exports: In the calendar year 2024,
    • China: US$ 153.3 bn. up 1% YoY
    • Bangladesh: US$ 38.6 bn. down 7% YoY
    • India: US$ 15.7 bn, up 9% YoY
  • Apparel Retail Scenario:
    • US apparel store sales in Dec. 2024 are estimated to be 6% higher than Dec. 2023. In the calendar year 2024, sales were 1% higher than 2023.
    • US home furnishing store sales in Dec. 2024 are estimated to be 10% higher than Dec. 2023. In the calendar year 2024, sales were 2% higher than 2023.
    • UK apparel store sales in Dec. 2024 were £ 6.4 bn., which remained same compared to Dec. 2023. In the calendar year 2024, sales were 1% lower than 2023.
  • In December 2024, US macroeconomic indicators signaled a weak market response, with the inflation rate increasing further to 2.9% and the Consumer Confidence Index falling by 6% from the previous month.

View the full report here!