From January to October 2024, the European Union’s apparel imports demonstrated a slight recovery, totaling US $ 77.78 billion—a year-on-year increase of 0.58 per cent. This marks a positive turnaround for the EU’s clothing import sector, recovering from a 2.02 per cent decline recorded in the first nine months of the year.
While the overall import value and quantity saw modest growth, the trends varied significantly among different sourcing countries. China, the EU’s largest apparel supplier, experienced a 1.14 per cent increase in import value during this period, indicating potential shifts in the global apparel market.
In contrast, other key suppliers outperformed, with Vietnam and Cambodia posting impressive growth rates of 3.31 per cent and 20.66 per cent, respectively. Bangladesh, however, faced challenges, as its apparel imports grew only by 1.43 per cent, despite a notable 6.68% increase in quantity. This discrepancy suggests a 4.92 per cent decline in prices, reflecting competitive pressures in the industry.
Unit prices for most suppliers decreased in 2024 compared to the previous year, a trend highlighted by former BGMEA Director Mohiuddin Rubel. He noted that the EU’s demand for apparel remains robust, but the competitive landscape is evolving, with some suppliers gaining market share while others, including Bangladesh, encounter difficulties.
Overall, the data points to a dynamic and changing apparel import environment for the EU as it navigates challenges and opportunities in the global market.
