by Apparel Resources News-Desk
26-July-2019 | 2 mins read
Due to increased demand for clothing, European Union has been able to see growth for the first time in 2019 during January to May period, especially in the month of May.
During the month, EU imported 371.79 million kg of garments from across the world which is a 13 per cent jump from what it was (329 million kg) in April this year.
The rise in quantities along with higher unit prices further boosted the value-wise import which stood at € 6,721.86 million (up 11.78 per cent on M-o-M basis). Cumulatively, during the 5-month period, EU imported 1898.98 million kg (up 0.59 per cent) of apparels worth € 34.85 billion, marking 8.56 per cent growth on the yearly note.
China, India and Vietnam fell in quantity-wise export to EU and got a surge in values majorly because of currency fluctuation and high cost of manufacturing. China saw a dip of 7.26 per cent in volumes, while values rose 3.44 per cent due to a rise on unit prices which was € 17.62 per kg of fabric equivalent in the review period as against € 15.80 per kg of fabric equivalent in the same period of last year.
Vietnam tumbled heavily in volume-wise exports (down 13.39 per cent) to EU but got a boost of 14.65 per cent in value terms as apparel shipment was worth € 1.38 billion in Jan.-May ’19 period. On the other hand, India’s export value to EU stood at € 2.46 billion with 3.81 per cent surge, while volumes fell by 0.81 per cent.
Turkey (among the top exporters of apparels to EU) could manage to control its cost and, therefore, was able to see boost in both quantities and values of its exports to EU by 4.51 per cent and 5.46 per cent, respectively. Furthermore, Bangladesh too escalated in exports to EU both in volume terms and value terms due to its ability to grabbing shift from its closest competitor China.
Bangladesh exported apparels worth € 7.82 billion to EU with 15.95 per cent rise on Y-o-Y basis. The country now has 22.44 per cent share in the European market, catching up rapidly with China which has just 25.94 per cent share in the 28-nation bloc.
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