EU Apparel Import Drop On The First Eight Months
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- Published: Tuesday, 31 October 2023 02:43
The European Union witnessed a 9.61% drop in apparel imports during the first eight months of 2023, with a reduced value from US$67.66 billion in January-August 2022 to US$61.15 billion in January-August 2023. The quantity of apparel imported by the EU also fell by 14.64%, declining from 3 billion kilograms to 2.56 billion kilograms during the same period.
Bangladesh, the EU's second-largest apparel supplier, saw a 13.71% decline in exports to the EU by value, going from US$15.45 billion in January-August 2022 to US$13.33 billion in January-August 2023. In quantity, Bangladesh's exports to the EU saw a 15.07% decrease, falling from 906.85 million kilograms to 770.17 million kilograms.
China, the EU's largest apparel supplier, had a 14.13% drop in exports to the EU by value, decreasing from US$18.86 billion in January-August 2022 to US$16.19 billion. In quantity, China's exports to the EU fell by 13.05%, dropping from 800.34 million kilograms to 695.88 million kilograms.
Turkey, the EU's third-largest apparel supplier, witnessed a 10.89% decline in exports by value, falling from US$8.24 billion in January-August 2022 to US$7.35 billion in January-August 2023. In terms of quantity, Turkey's exports to the EU decreased by 23.23%, declining from 318.92 million kilograms to 244.83 million kilograms during the same period.
Despite the overall decline in apparel imports, the EU's unit price of apparel imports increased by 5.89% in January-August 2023. This increase was driven by higher prices from China, Turkey, Vietnam, Sri Lanka, and Indonesia. It's important to note that this data is preliminary and may be revised in the future, indicating some challenges in the EU apparel market.