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Sri Lanka, Vietnam grow in Japan’s imports

In the first three months of the year, Japan recorded a surge in volume of apparel imports by 0.30 per cent. However, values fell by 2.66 per cent during the period on a year-on-year basis.

Sri Lanka and Vietnam emerged as the biggest positive apparel exporters to Japan in the first quarter. Sri Lanka noted a 6.74 per cent rise in value and a 133.46 per cent rise in volume. Vietnam too saw a 7.83 per cent rise in value and a 9.19 per cent rise in volume. Other major Asian apparel giants such as China, India, Bangladesh and Pakistan registered negative growth in their apparel exports to Japan during the quarter.

Japan is the world’s third largest economy. Apparel retailers in Japan have no interest in online retailing despite the fact that e-commerce is one of the biggest emerging revenue generating platforms in the country. Retailers avoid this channel due to profitability concerns. Instead they are seeking to keep prices low in stores. According to them, this practice might boost consumer spending, especially tourist spending, in apparel resulting in more imports by Japan in the year ahead.

The Japanese apparel market and fashion industry witnessed a minor downfall after the earthquake of 2011, but soon bounced back overcoming the economic concerns. The categories trending in the Japanese apparel markets are women's outerwear, sportswear, and children’s wear. Recent innovations in functional garments have increased the sales and increased the unit price of such clothing.

 
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