UK's coat imports from China see significant price drop in 2024

01 Dec '24

2 min read

UK's coat imports from China see significant price drop in 2024

Pic: Adobe Stock

Insights

UK's coat imports from China have steadily declined in value and volume over recent years, with the average price per unit dropping 11.92 per cent to $14.26 in Jan-Aug.
Inflation and geopolitical unrest have pressured exporters and reduced consumer purchasing power.
Total coat imports from the world fell, with the UK importing 10.685 million units at an average price of $15.37 per unit in 2024.

The average price of coats imported from China by the United Kingdom has shown a consistent decline over the last three years. The price dropped 11.92 per cent to $14.26 per unit in the first eight months of the current year. The lower average price of imports reflects the significant pressure on exporters to secure export orders. It is worth noting that geopolitical unrest and sustained high inflation have dented consumers’ purchasing power in the UK and other importing countries.

The average price of imported coats was recorded at $16.19 per unit in 2022, which decreased to $15.07 per unit in 2023 and further declined to $14.26 per unit between January and August 2024. Previously, the average price was $17.88 per unit in 2021, $15.90 per unit in 2020, and $16.76 per unit in 2019, according to Fibre2Fashion's market insight tool TexPro.

During January-August 2024, the UK imported 2.661 million units of coats from China, valued at $37.951 million. In 2023, it imported coats worth $104.123 million, a 27.27 per cent decrease from imports valued at $143.500 million in 2022. The value of coat imports was recorded at $350.933 million in 2021, $281.251 million in 2020, and $366.488 million in 2019.

The UK imported 6.909 million units of coats from China in 2023. The volume of imported coats was 8.861 million units in 2022, 19.631 million units in 2021, 17.691 million units in 2020, and 21.488 million units in 2019, according to TexPro.

The UK’s coat imports from the world totalled $164.190 million in the first eight months of the current year. It imported 10.685 million units of coats from the world at an average price of $15.37 per unit. In 2023, it imported 24.555 million units of coats with a total value of $378.568 million.

Fibre2Fashion News Desk (KUL)

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This according to Fibre2Fashion's Market Intelligence Tool - TexPro