The European Union continued importing more t-shirts during January to May 2018 period spending less euro as compared to the corresponding period last year. To import 292 million kg of t-shirt (up 5.63%), the Union spent € 4,182.64 million and declined 3.38 per cent on the yearly note.
Apart from the strengthening euro, the fall in value-terms was noted due to exporters slashed their unit prices in order to stay relevant in the market and absorb the shift from China which fell drastically in both volumes (5.29%) and values (10.93%) in its t-shirt exports to EU during the said period.
Bangladesh remained the top exporter of t-shirts in the European market as it exported t-shirts worth € 1,533.54 million. Though export value dwindled by 2.30 per cent, the volumes increased by 10.71 per cent. The export value accommodated around 36.67 per cent of overall t-shirt import value of EU.
Vietnam is gradually making its space in the European t-shirt market as the country marked 11.56 per cent growth in value-terms, while volumes were up by 16.54 per cent on Y-o-Y basis. Vietnam exported 4.24 million kg of t-shirts worth € 77.04 million to EU in the mentioned period.
On the other hand, India is rapidly moving to surpass China in t-shirt exports to EU market. The country shipped 24.74 million kg (up 2.47%) of t-shirts to EU valued at € 402.88 million (down 1.69%). The shipment is somehow a sign of relief for India as despite tough market scenario and no FTA with EU it managed to increase, at least in volumes, which indicates buyers are showing interest in the Indian exporters.
The trade data was released by Eurostat and analysed by Apparel Resources.
