Denim exports generate US$2.2 million to Brazil

Denim exports, which have been on a downward trend since mid-2022, amassed $2.2 million in January 2024. This figure marks a notable 42% surge compared to the lackluster performance of December, albeit still reflecting a 16% decline from January 2023. Interestingly, Colombia emerged as the top destination for Brazilian denim exports in January, accounting for $688,000 in purchases. Following closely behind, in an unexpected twist for the industry, Sri Lanka secured $643,000 worth of denim. The third-largest buyer was Paraguay, with $403,000 in purchases, as per GBLjeans’ analysis based on the federal government’s foreign trade control system.

Conversely, denim imports, which had plummeted to negligible levels since 2020, more than tripled in January (compared to a month earlier), reaching $506,000. This marks an impressive 83% growth from January 2023, with half of the imported value originating from Ecuador.

TEXTILE IMPORTS ON THE RISE

Similar to January 2023, textile imports kicked off 2024 on an upward trajectory, totaling $566 million—a 25% increase from December 2023 and a 12% surge compared to January 2023. The surge in clothing imports played a significant role in this growth, soaring by 40% in January compared to the previous month, driven by winter orders, tallying $191 million.

Even when excluding cotton sales, Brazilian textile exports continued their decline in January 2024, dipping to $63.6 million—nearly 10% lower than January 2023. However, this still represents an approximate 5% increase from December 2023.

The following chart shows Brazil’s clothing industry imports (hs code 53-56) between January 2022 and December 2023. The data is from DataLiner.

Clothing Industry Imports | Jan 2022 – Dec 2023 | TEUs

Source: DataLiner (click here to request a demo)

Of the $63.6 million exported by Brazil (excluding cotton), $11.4 million came from clothing sales, including bikinis and swimsuits to the United States or pants and T-shirts to Uruguay—both key buyers of Brazilian apparel.

Source: GBL Jeans

Click here to read the original article: https://gbljeans.com.br/mercado/economia/exportacao-de-denim-gera-us22-milhoes/

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