EU apparel imports from the world experienced a significant decline of 7.62% during January-April 2023, reaching a total of US$29.83 billion. The quantity of clothing imports also saw a steep downturn of 15.45%. 

Winners and Losers in EU Apparel Imports 

Among the top ten sourcing countries for EU apparel, Vietnam and India demonstrated positive growth, while imports from other countries declined notably. 

Bangladesh: Decline in Imports 

In terms of EU apparel imports from Bangladesh, there was a 6.25% decrease in dollar value, amounting to US$7.06 billion from January to April 2023, compared to US$7.53 billion during the corresponding period in 2022. The quantity of imports from Bangladesh also declined by 12.48% during this period. 

China and Turkey: 

Decrease in Imports EU imports from China witnessed a dip of 17.07% in dollar value and 21.05% in quantity. Similarly, during January-April 2023, the EU’s imports from Turkey, the third-largest apparel source, declined by 13.68% in value and 24.66% in quantity. 

India and Vietnam: 

In contrast, the EU’s imports from India and Vietnam experienced slight growth of 0.45% and 3.41%, respectively, in value terms. However, imports from both countries declined by 8.17% and 7.26% in quantity, respectively. 

Decline in Imports from Other Sourcing Countries 

Simultaneously, the EU’s imports from other top sourcing countries, such as Cambodia, Pakistan, Morocco, Sri Lanka, and Indonesia, decreased by 5.59%, 7.52%, 16.61%, 17.16%, and 7.99%, respectively, in value terms. 

Unit Price Analysis 

Analyzing the unit price (USD value/kg), the EU’s cumulative unit price of imports from Bangladesh increased by 7.12% (from US$16.98 to US$18.19). 

This rise reflects higher raw material and production costs,  ignalling progress towards the higher price segment. Average unit prices of imports from other countries also experienced an upward trend during the mentioned period.

By Fashionating World
https://www.fashionatingworld.com/new1-2/declining-eu-apparel-imports-analysis