Canadian apparel imports have declined in May ’22 as compared to April ’22, signalling towards rising inflation that’s stopping consumers to spend on clothing products in North America.
The country imported US $ 916.44 million worth of apparels during May ’22, plunging by around 12 per cent over April ’22. However, on Y-o-Y basis, the country upped its imports by 25.73 per cent.
The trend (monthly decline; yearly increase) was seen in the export values of all top five garment exporting destinations to Canada – China, Vietnam, Bangladesh, Cambodia and India.
Value-wise, China shipped US $ 228.85 million worth of garments to Canada during May ’22, noting 19.92 per cent monthly decline over April ’22.
China was followed by Vietnam that exported US $ 138.41 million worth of garments to Canada in May ’22, declining by 19.44 per cent on M-o-M basis. Bangladesh’s export of apparel to the North American country valued US $ 112.81 million – up 1.66 per cent on yearly basis, but down 14.90 per cent over April ’22.
Cambodia and India shipped US $ 111.76 million and US $ 38.66 million worth of apparels to Canada, respectively, noting 13.61 per cent and 12.66 per cent monthly decline.
