Japan still not recovered as RMG imports down
45% in July 20 over July 19 and by 19.63% in COVID-19
Japanese RMG import took a hit in 2020 due to COVID-19
outbreak and, as per data released by Ministry of Finance
(Japan) and compiled by Apparel
Resources, there is a sharp decline in imports in
pre-COVID-19 period (January to March 20) as well as in
COVID-19 period (April to July 20).
Japans RMG imports valued 903.54 billion yen
(US $ 8.50 billion) in January-April 20 (considering the
April data is a result of shipment done by countries in
March), marking 9.60 per cent decline on Y-o-Y basis. As
lockdown got relaxed in Japan in early May 20 and the
imports for this month happened in April, the period
April-July 20 too was significantly down by 19.63 per cent
on Y-o-Y basis.
The import valued 734.36 billion yen (US $ 6.91 billion) in
April-July 20 which was also down by 18.72 per cent from
previous period January-April 20. Earlier we had reported
that Japan has been noting month-over-month growth from May
20 onwards but still the decline on Y-o-Y basis is too huge
to be covered.
Vietnam was the only country which saw yearly
growth by 4.80 per cent in its apparel shipment to Japan
during January-April 20. However in the subsequent period
(April-July 20), the shipment valued 122.37 billion yen (US
$ 1.15 billion), noting a decline of 18.03 per cent from
what it clocked in January-April 20 and 14.51 per cent from
the same period of 2019.
Japan imported 426.46 billion yen (US $ 4.01 billion) worth
of garments from China in
April-July 20 period, marking 12.26 per cent decline from
January-April 20 period (when it imported 511.11 billion
yen (US $ 4.81 billion) worth of garments) and 16.57 per
cent from April-July 19 period.
Chinas share, cumulatively in 2020, to the total import
value of Japan stood at 54.42 per cent, while the same was
55.87 per cent in 2019 (January to July period).
When it comes to Bangladesh
and India, both the countries took more severe
hit as compared to China and Vietnam. Bangladeshs
RMG shipment to Japan valued 27.81 billion yen (US $ 261.76
million) which is down by 40.30 per cent from its own
shipment value in January-April 20 and 29.37 per cent in
April-July 19. Bangladeshs share to total Japanese import
of apparels reduced to 3.78 per cent in April-July 20 from
4.31 per cent in April-July 19, owing to COVID-19 mayhem.
India too declined by 43.65 per cent in
April-July 20 period over January-April 20 period to ship
6.59 billion yen (US $ 62 million) worth of garments to
Japan. The fall on Y-o-Y basis as compared to April-July 19
period was also massive 48.20 per cent.
In July 20,
Japan imported 212.98 billion yen (US $ 2
billion) worth of garments and fell Y-o-Y as compared to
July 19 by 45.18 per cent. As compared to July 19, all the
countries still remained negative in their respective RMG
exports to Japan. China, Vietnam, Bangladesh and India fell
in their exports to Japan in July 20 on Y-o-Y basis by
46.23 per cent, 44.95 per cent, 34.73 per cent and 20.64 per