Chinese garment unit prices in imports by both UK and USA have fallen since the beginning of this year, which may drive up exports as well as market share of Chinese clothing to these countries.
Between January and September 2023, amid total US garment imports, unit price of a Chinese garment fell higher at 14 percent from a year ago period, compared to an average 6.7 percent unit price decline in total US clothing imports.
In the second quarter of the current year too, Chinese garment unit costs dropped 3.2 percent as against the average unit price of overall US apparels imports growing by 4 percent in the same quarter.
While in the third quarter of ongoing year, the value and volume of US garment imports from China climbed, primarily due to decrease in unit prices. This in turn expanded China’s share of US clothing imports.
As against 39.8 percent Chinese share in US apparel imports in the third quarter of 2022, they increased to 40.7 percent in the third quarter of 2023.
In the nine months to September 2023, UK clothing garment import volumes slipped 6.1 percent year over year, while value wise they descended 10.8 percent.
In the period under review, apparel imports from Turkey by volume declined 29.1 percent and by value 20.2 percent.
However, imports from Cambodia drove up 7.5 percent value wise and 16.8 percent volume wise in the first nine months of 2023.
UK clothing Imports from China accounted for the biggest market share at 27.2 percent, while those from Bangladesh grabbed 26.1 percent and Vietnam with 5.2 percent.
Turkey’s import unit price rose 11.8 percent from a year ago period between January and September 2023. However unit prices dipped in imports from China by 9.4 percent.
Indian Apparel, Apparel and Textile News
