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Canada’s apparel import sector underwent a series of fluctuations in the first half of 2023, marked by a marginal overall decline of 0.52 per cent, according to official data.
The analysis of the quarters, done by team Apparel Resources, reveals a mixed performance, with Q1 ’23 exhibiting a positive trajectory and Q2 ’23 witnessing a substantial downturn, putting a focus on the broader challenges faced by the consumer market not only in Canada but also in major apparel retail markets globally.
During the initial quarter of the year, Canadian apparel imports showcased resilience as buyers brought in garments worth US $ 2.70 billion, marking a noteworthy 10 per cent year-on-year increase.
However, the subsequent quarter, Q2 ’23, took a downturn with a notable decline of 9.77 per cent to US $ 2.66 billion. This decline can be attributed to sluggish demand within the consumer market.
Despite Canada’s fall in its apparel imports, several countries managed to maintain positive momentum in their apparel exports to the Canadian market.
India, Vietnam, and China emerged as the standout performers, defying the challenging landscape. The respective apparel exports of these countries amounted to US $ 221.62 million (up 1.49 per cent), US $ 740.96 million (up 1.18 per cent); and US $ 1.50 billion (up 0.27 per cent).
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