Issue
4:
4th Quarter 2008
Product Overview
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Trade and trade policy: five key emerging apparel import markets |
13 pages,
published in Issue 4, 4th Quarter 2008
Report price:
Euro 275.00;
US$ 365.00
|
World imports of clothing grew by a robust 11%, or US$33.9 bn, in 2007?the latest year for which data are available?to reach a total of US$357.8 bn. Almost a third of this increase was generated by five key emerging markets, namely Russia, the United Arab Emirates (UAE), Canada, South Korea and China.
Russian clothing imports increased by as much as 79%, or US$6.4 bn, following annual average growth of 20% between 2000 and 2006. As a result, Russia?s share of global clothing imports more than trebled between 2000 and 2007?from 1.3% to 4.1%?and the country became the eighth largest clothing importer in the world. Strong expansion in the clothing import market has come hand-in-hand with stable enhancement of the domestic economy and a growing middle class.
Canada was the world?s 12th largest clothing importer in 2007, following five consecutive years of double digit import growth. Canada?s clothing imports have increased as low cost manufacturers around the world have sought to take advantage of a decline in the level of competitiveness of Canada?s domestic clothing industry. Imports from the EU have also fared well in the Canadian market as EU-based retailers operating at the mid-price range have set up operations in the country.
UAE imports increased between 2000 and 2007 by an average of 29% per annum?the fastest rate of growth among the world?s 50 largest clothing import markets. Furthermore, they soared by 72% in 2006 and by 64% in 2007. A large proportion of the UAE?s clothing requirements were sourced from Western countries in 2007, having been helped in large part by healthy demand from the country?s sizeable expatriate community. Several international retailers have sought to take advantage of this factor by setting up distribution and retail operations in the UAE. They have been encouraged by a strong commitment from the government to improve the country?s infrastructure and establish a ?commerce-friendly? environment.
Imports into South Korea, the world?s 16th largest clothing importer, rose by 15% in 2007, following an increase of 29% a year earlier. Brand awareness among South Korean consumers has grown significantly in recent years, and this has encouraged international retailers to set up operations in the country.
Chinese clothing import growth accelerated to 15% in 2007, after imports rose by an average of only 6% per annum between 2000 and 2006. A sharp increase in labour costs has forced many Chinese manufacturers to outsource the production of basic clothing items to lower cost countries in Asia.
- Trade and trade policy: five key emerging apparel import markets
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- Summary
- Introduction
- Russia
- Canada
- United Arab Emirates
- South Korea
- China
- Statistical appendix
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practical and strategic advice from industry experts