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Friday, 28 April 2023 02:43

China benefits from surge in demand as Japan's textile imports increase

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Japan experienced a surge in textile imports in the April 2022-March 2023 fiscal year, with a significant increase of 26.1% to $33.4 billion.

Textile yarn and fabric imports alone were valued at $11.8 billion, representing a 23.2% increase from the previous year, accounting for 1.1% of Japan's total imports. China was the primary source of textile yarn and fabric imports, accounting for $1.98 billion, up 10% from the previous fiscal year.

As the primary source of textile yarn and fabric imports to Japan, China has been benefiting from this surge in demand for textiles. Additionally, Japan's textile exports also saw notable growth in the same period, with textile yarn and fabric exports reaching $7.2 billion and textile machinery exports surging by 19.3% to $2.8 billion, contributing 0.3% to the country's total exports.

In March 2023, Japan's clothing and accessories imports increased by 22% to $3 billion, accounting for 3.4% of the total imports of $89.2 billion during the month. Meanwhile, textile yarn and fabric imports in March 2023 were valued at $1 billion, up 11.1% year-on-year, accounting for 1.1% of the country's total imports.

These statistics suggest that China has been playing a vital role in Japan's economic recovery from the COVID-19 pandemic through increased textile exports.

However, the surge in textile imports to Japan also highlights the country's growing demand for textiles, which presents an opportunity for Chinese textile manufacturers to expand their market share in Japan.