Current Trends in the Apparel Foreign Trade Market

In the ever-evolving landscape of the apparel foreign trade market, several trends are shaping the industry. According to the latest data, the global apparel export growth slowed down notably in 2022 due to the economic slowdown. The total global apparel export amount reached 576 billion US dollars, with a year-on-year growth of 5%, which was significantly lower than the astonishing 20% growth rate in 2021.

In terms of popular styles, comfortable and casual wear continued to gain popularity. Consumers are increasingly opting for relaxed fits and versatile designs that can be easily incorporated into their daily lives. Athleisure, a combination of athletic and leisurewear, remained in high demand.

Regarding colors, neutral tones such as beige, gray, and black were still widely favored as they offer a timeless and versatile look. However, there was also a growing interest in bold and vibrant colors to add a splash of personality to outfits. For example, shades of green, pink, and yellow were seen more frequently on the runways and in stores.

When it comes to fabrics, sustainable and eco-friendly options were on the rise. Materials like organic cotton, recycled polyester, and Tencel were preferred by both consumers and brands for their reduced environmental impact. Breathable and moisture-wicking fabrics also remained important, especially for activewear and sportswear.

In the pattern of global apparel exports, China is still a major player, but its market share has been gradually decreasing. Bangladesh surpassed Vietnam to become the world’s second-largest apparel exporter in 2022, with a market share of 7.9%, while Vietnam’s share was 6.1%. Other large Asian clothing-producing countries also saw strong growth in their apparel exports, including Vietnam (up 13%), Cambodia (up 12%), and India (up 10%).

In the textile export sector, developed countries like the EU member states and the US remain significant exporters, accounting for 25.1% of the world’s textile exports, higher than 24.5% in 2021 and 23.2% in 2020. Meanwhile, middle-income developing countries have been steadily building up their textile production and export capabilities.

The regional supply chain remains a crucial feature in the global textile and apparel trade. In Asia, for instance, nearly 80% of the region’s textile inputs and apparel imports come from within the region. The same holds true for the EU, where approximately half of the textile imports and one-third of the clothing imports are from other EU member states.

However, the apparel foreign trade market is facing challenges. The economic slowdown and high inflation in major importing markets like the US and Western Europe have negatively affected consumers’ discretionary spending, including on clothing. Additionally, the ongoing search for alternative sourcing destinations and the evolving purchasing strategies of fashion companies due to various economic and geopolitical factors are adding to the complexity and competitiveness of the market.