China's loss is Vietnam's gain in Australia's apparel imports

Australia’s apparel imports from China amounted to $1,927.665 million in the first five months of the current year, representing 58.97 per cent of the total apparel imports by the country. Imports from Bangladesh were $386.244 million during the same period, making it the second-largest supplier with a share of 11.82 per cent. Inbound shipments from Vietnam were valued at $259.610 million (7.94 per cent), from India at $127.500 million (3.90 per cent), and from Indonesia at $106.108 million (3.25 per cent) in the first five months of the current year, according to Fibre2Fashion's market insight tool TexPro.

In 2019, Australia’s total apparel imports were recorded at $6,600.153 million. Of this, imports from China were $4,193.826 million, constituting 63.54 per cent of the total. Therefore, China's share declined by 4.57 per cent over the last five years. Despite this decline, China successfully retained not only the top spot but also almost 60 per cent of the market share.

Over the past five years, Vietnam’s share increased from 4.60 per cent in 2019 to 7.94 per cent in January-May 2024. Australia had imported apparel worth $303.813 million from Vietnam in 2019. However, the shares of Bangladesh, India, and Indonesia did not see significant growth despite the decline in China's share. Australia’s apparel imports from Bangladesh were $696.583 million (10.55 per cent), from India $253.399 million (3.57 per cent), and from Indonesia $217.876 million (3.30 per cent) five years ago, as per TexPro.

The market share of Bangladesh increased from 10.55 per cent to 11.82 per cent, and Indonesia’s share from 3.30 per cent to 3.25 per cent. However, India’s share decreased from 3.57 per cent to 3.90 per cent during this period.

In 2023, Australia’s apparel imports totalled $7,533.482 million, of which imports from China were $4,447.818 million, representing 59.04 per cent. Among the top five suppliers, imports from Bangladesh were $837.612 million (11.12 per cent), Vietnam $554.414 million (7.36 per cent), India $344.786 million (4.58 per cent), and Indonesia $253.592 million (3.37 per cent).

Fibre2Fashion News Desk (KUL)