From January to October 2024, the EU’s apparel imports experienced a mixed trend. EU’s apparel imports totalled US$ 77.78 billion during this period, a slight increase year-on-year by 0.58%. This brings EU’s year-to-date clothing import to a positive side, from -2.02% growth in January-September 2024.
While overall import value and quantity increased slightly, a closer look reveals a complex picture across different sourcing countries. China, a major supplier, saw a slight increase in the value of apparel imports to the EU in the mentioned period, which is 1.14%, suggesting a potential shift in the global apparel market. Other major suppliers like Vietnam and Cambodia experienced growth by 3.31% and 20.66% respectively. However, EU’s import from Bangladesh grew only by 1.43% in this period, despite a modest increase in quantity (6.68%), indicating 4.92% decline in prices.
Importantly, unit prices declined for most suppliers in 2024 compared to 2023, reflecting competitive pressures within the global apparel industry. EU’s import price from China declined by 8.63% in the mentioned period.
The data suggests that while the EU’s overall demand for apparel remains strong, the competitive landscape is shifting, with some suppliers gaining ground while others, including Bangladesh, are experiencing challenges.
Mohiuddin Rubel
Former Director, BGMEA
Additional Managing Director, Denim Expert Ltd
