Worldwide EU clothing imports have dropped to US $52.38 billion in the first seven months of 2023, down 7.44 percent as against $56.60 billion in the January to July 2022 period.
Quantity-wise too they dipped sharply to 2.17 billion kilograms (kgs) in the months between January and July 2023, a decline of 12.80 percent compared to 2.49 billion kgs in the first seven months of 2022.
Among the top ten garment-supplying countries in the EU, all of them have shown negative growth in both value and quantity.
EU’s imports from China, the top sourcing country, saw a decline of 10.
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88 percent to $13.28 billion in the January to July 2023 period from $14.89 billion in the comparable months of 2022.
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In terms of quantity, they also declined to 558.20 million kgs from 624.29 million kgs, showing a fall of 10.59%.
EU imports of clothing from Bangladesh also slipped 11.73 percent to $11.63 billion in the period under review, from $13.18 billion in the corresponding period of 2022.
Quantity-wise they descended 14.50 percent to 662.56 million kgs during the review period from 774.88 million kgs in the similar months of the earlier year.
During the months between January and July 2023, the EU’s imports from Turkey, the third largest apparel source also decreased 10.60 percent to $6.39 billion from $7.15 billion in the comparable months of 2023.
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Quantity wise they also descended by 22.52 percent to 212 million kgs as against 273.63 million kgs.
EU clothing imports from India fell 5.79 percent value-wise and 11.49 percent quantity-wise, while those from Vietnam dropped 1.
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84 percent value-wise and 8.99 percent quantity-wise.
Between January and July 2023, the EU’s imports from Cambodia, Pakistan, Morocco, Sri Lanka, and Indonesia also declined by 7.20 percent, 9.81 percent, 12.59 percent, 13.72 percent, and 17.56 percent respectively value-wise.
EU’s global per unit import price increased by 6.14 percent in the period under review.
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Except for China, the other top sourcing destinations have shown positive growth.
This indicates that China is still able to supply at competitive rates when compared with the rest of the world.
