Japan's devastating earthquake and the tsunami have shattered its economy but will have negligible effects on China's textile and garment exports to Japan. Actually, it may benefit China's textile and garment exports to Japan in other ways.
Because of these back to back natural calamities, China's textile and garment exports to Japan may decline in March, but overall impact will be positive as the demand for clothing will rise.
Once people of affected areas start living a normal life, the demand for clothing is expected to rise. So China's textile and garment exports to Japan are expected to benefit from the situation. As a result, Japan's calamities will have no negative impact on operation of domestic apparel industries.
For China's textile and apparel products, Japan is one of the biggest markets. China's textile and clothing exports to Japan has a lion share of 10 percent in China's total global export value.
Due to economic slowdown in Japan, China's textile and clothing exports to Japan witnessed stagnation for ten years but the situation started to improve after October last year.
China's textile and garment exports' growth rate to Japan has been slower in comparison to Europe and U.S.
For Japan, the devastating earthquake of March 11 has made the situation from bad to worse on the economic front. As per an analysis, the earthquake and tsunami will affect more, sea transports in next couple of months. Because of that there, will be some difficulties in cargos and a little delay in delivering the goods.
For long term, signs are positive as the demand for textile and apparel products in Japan's post-disaster time will increase. Therefore, barring some temporary impacts, China's textile and clothing exports will not face any hardship.
Fibre2fashion News Desk - India
20240830145952.gif)
.jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "UBM China (Shanghai)")
-Ltd..jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Thermore (Far East) Ltd.")
