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Apparel importers thrive on strengthening yen
06
Sep '10
Last week as the Japanese yen traded at a record rate of ¥84 to the USD dollar, it may have been troubling news for the exporters in Japan, but it is a time to rejoice for Japanese apparel importers and retailers.

A recently released survey of the Ministry of Economy, Trade and Industry reveals that, about 35 percent of the leading apparel manufacturers in Japan said that, if the US dollar persists at the JPY 85 level, then they would move their manufacturing or development centres to foreign countries, while around 60 percent of them said that they would heighten their overseas production ratio.

Subsequent to the decline of the country's textile and apparel production industry, a major portion of Japan's production has shifted to foreign countries, and that to, to China and SE Asia in particular.

As per the recently released data of the Finance Ministry, imports for the month of July grew by 15.7 percent to JPY 5.18 trillion (US $61.5 billion), leading to a trade surplus of JPY 804.2 billion ($9.5 billion).

Though no recent data exclusively for the apparel sector was available but then, over the past few decades Japan has changed from being a leading exporter of clothing and textiles to a leading importer of the same.

Also though reliable reports as regards Japan's investment value in China's textile industry are not available, around $ 5 billion of the total $10.2 billion of the country's overseas cumulative investment in the textile and clothing sector has been invested in China, according to experts.

Fibre2fashion News Desk - India


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