EU Apparel Imports: Analysis of Top Sourcing Countries

TheEU

26 May 2023, Mumbai  

Bangladesh Remains the Second Largest Apparel Import Source

Based on the Eurostat data, Bangladesh retains its position as the EU's second-largest apparel import source, accounting for 24.07% of the total import value during January-March 2023.

In terms of quantity, Bangladesh becomes the top sourcing country for the EU. In 2022, Bangladesh secured the highest position in terms of quantity. A separate email with a detailed analysis and datasheet will be sent.

Overall Decline in EU's Apparel Imports

The latest data reveals a 4.94% decline in EU apparel imports from the world during the mentioned period compared to the same period in 2022, amounting to a decline of 1.22 billion dollars.

In terms of quantity, EU's clothing import experienced a significant downturn of 12.64%, which is 136.88 million kilograms less than January-March 2022.

A decline in Import from China, Growth in Import from Bangladesh

EU's import from China, the second-largest apparel import source, declined by 17.80% in value terms during the mentioned period, while imports from Bangladesh showed a value-wise growth of 3.9%.

However, in terms of quantity, imports from Bangladesh declined by 3.67%, primarily due to inflated unit prices caused by increased raw materials, transportation, and production costs.

Positive Growth from Bangladesh, India, and Vietnam

Among the top ten apparel-sourcing countries, Bangladesh, India, and Vietnam demonstrated positive growth in EU's apparel imports. Import from Turkey, Pakistan, Sri Lanka, and Morocco, however, declined.

EU's imports from Turkey, the third-largest apparel import source, dropped significantly by 12.79%. Conversely, imports from India and Vietnam increased by 5.75% and 3.73% respectively in value terms. Volume-wise, all top countries experienced negative growth in EU's imports.

CREDITSBGMEA Press Release.

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