INSIGHTS
- In May 2023, Japan’s clothing and accessories imports decreased by 10.8 per cent to 221,877 million yen ($1,535.33 million), accounting for 2.6 per cent of total imports.
- Textile yarn and fabric imports fell 14.3 per cent to 94,275 million yen. For FY23, Japan saw a significant increase in clothing and accessories imports, up 26.1 per cent from FY22.
Japan’s clothing and accessories imports in May 2023 decreased by 10.8 per cent to 221,877 million yen (approximately $1,535.33 million), accounting for 2.6 per cent of the total imports of 8,673,913 million yen for the second month of the new fiscal 2023-24 (FY24), according to the provisional trade statistics provided by the country’s ministry of finance.
In the same month, the value of imports for textile yarn and fabric was 94,275 million yen, marking a 14.3 per cent decline compared to the same period in the previous fiscal. Yarn and fabric imports accounted for 1.1 per cent of Japan’s total imports.
In May 2023, Japan’s exports of textile yarn and fabric were valued at 60,719 million yen, an increase of 2.6 per cent year-on-year. The country’s textile machinery exports, meanwhile, rose to 31,872 million yen, a significant increase of 32 per cent from the corresponding period of FY23. These exports contributed 0.4 per cent to the country’s total exports.
During FY23, Japan’s clothing and accessories imports reached 3,619,550 million yen (approximately $25,046.36 million), a substantial 26.1 per cent increase compared to FY22. The imports of textile yarn and fabric were valued at 1,275,608 million yen, reflecting a growth of 23.2 per cent. Over the course of FY23, Japan exported textile yarn and fabric worth 776,999 million yen, while the exports of textile machinery were valued at 306,781 million yen.
Source: https://www.fibre2fashion.com/