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Insight | Time: May 8 2020 3:09PM
Japanese textile and apparel import demand collapsed in the first quarter
 
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According to the latest data, Japanese textile and apparel imports in Mar reached 216,500tons, down by 2% year-on-year, while those from China were 105,300tons, down by 4% year-on-year. In the first quarter, Japanese textile and apparel imports totaled 605,000tons, down by 7.5% year-on-year; the volume from China totaled 286,000tons, down by 13.1% year-on-year.

Japanese textile and apparel import volume
  Total imports   imports from China  
volume(tons) year-on-year volume(tons) year-on-year
Textile and apparel Mar 21.65 -2.0% 10.53 -4.0%
Jan-Mar 60.50 -7.5% 28.58 -13.1%
Apparel Mar 8.05 -2.3% 4.46 -6.1%
Jan-Mar 22.14 -9.9% 12.12 -17.1%


Japanese textile and apparel import value
  Total imports   imports from China  
value(billion yen) year-on-year value(billion yen) year-on-year
Textile and apparel Mar 324.29 -2.9% 170.32 -5.8%
Jan-Mar 888.07 -10.4% 398.74 -26.4%
Apparel Mar 239.78 -4.7% 125.17 -9.5%
Jan-Mar 669.09 -10.9% 337.50 -19.4%

As can be seen from above, Japanese textile and apparel import demand weakened sharply in the first quarter of 2020, and the decline in the volume from China was larger than the total. Global textile and apparel industry has been greatly impacted hit by the accelerating outbreak. While the pandemic in China has been controlled and mills gradually returned to work, the global consumption and trade suffered comparatively in the epidemic spread outside China. Japan was no exception.

China's share in Japanese textile and apparel import market gradually declined
From the perspective of share, the proportion of China in Japanese textile and apparel import market has gradually declined in recent years, with the proportion of quantity falling to 47.2%, down 3% compared with the same period last year.

China's share in Japanese textile and apparel import market
  Value Volume
Q1 2020 year-on-year Q1 2020 year-on-year
Textile and apparel 54.6% -9.7% 50.3% -3.0%
Apparel 50.4% -5.3% 54.7% -4.8%

The market shares of Vietnam, Indonesia, Thailand and Bangladesh have gradually increased, especially in Southeast Asia. In the first quarter, the main sources of Japanese textile and apparel are as follows.



Although COVID-19 pandemic in China has been gradually controlled, foreign trade were greatly affected. The outbreak of the epidemic outside China was really a great shock to global consumption, and it is expected that Japanese textile and apparel import in Apr is still not optimistic.

Bleak apparel sales and more nonessential businesses shuttered
According to Reuters, H&M, Europe's largest clothing retailer, recently reported that sales value fell by 46% in Mar due to the impact of the pandemic, and it is expected that it will still suffer losses in the second quarter. Nonessential businesses were forced to shutter due to the COVID-19 outbreak, which created an equally staggering increase in cash, Gap, the US clothing giant, said on Apr 24. It has racked up $1 billion since February and is expected to have only $750 million left in its bank account by next week. Mr. Serra said sales in the EU's branded apparel sector had fallen about 90% due to the COVID-19 outbreak. In addition to the support of the state, employees have gained economic support from employers, avoiding unemployment, but this is not a long-term solution. Similar reports continue to show that great impact has been made on end-users demand, and China's textile and apparel industry is also facing great challenges.
[RISK DISCLAIMER] All opinions, news, analysis, prices or other information contained on this report is provided by analyst of Zhejiang Huarui Information Consulting Co., Ltd (CCFGroup) as general market commentary and does not constitute investment advice. CCFGroup will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information.
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