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Trade and Trade Policy: World Clothing Trade and Key Emerging Markets, 2009/2010
Textiles Intelligence, Feb 2010, Pages: 33
World imports of clothing grew by a firm 5%, or US$17.5 bn, in 2008—the latest year for which global data are available—to reach a total of US$375.6 bn. However, the rate of growth in 2008 was much slower than in the previous year when world imports of clothing rose by a robust 11%. Imports into the world’s five largest individual clothing markets—the USA, Germany, Japan, the UK and France—rose in absolute terms by US$2.7 bn, which represented 15% of the total increase in global imports.
A breakdown by region shows that imports into Asia and Oceania grew by 4%, to US$62.9 bn— following average growth of 5% per annum between 2004 and 2007. Imports into Europe, the Middle East and Africa grew by 11% to US$217.4 bn—following average growth of 12% per annum between 2004 and 2007. By contrast, imports into the Americas fell by 1% to US$100.1 bn—following average growth of 5% per annum between 2004 and 2007.
As much as 30% of the increase in total world imports in 2008 was generated by the following 13 key markets: Argentina, Australia, Brazil, Chile, China, Croatia, Czech Republic, Greece, Israel, Poland, Turkey, Ukraine and Venezuela.
Looking ahead, consumer demand for clothing is forecast to grow in all of these markets, although the fastest growth will be enjoyed by retailers in China, followed by Indonesia, Ukraine, Turkey and Chile.
In absolute US dollar terms, growth will be strongest in China, followed by the USA, Turkey, the UK, Brazil and France.
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