According to the latest released data by EUROSTAT, European Union (EU) fell in its volume-wise apparel import by 1.42 per cent in January to November 2019 period. However, the 28-nation bloc increased by 4.29 per cent in its value-wise import in the review period.
EU imported 4.54 billion kg worth of garments in first 11-month period of 2019, which valued at € 81.72 billion, whereas quantities imported in the same period of 2018 were 4.61 billion kg and value stood at € 78.35 billion.
The data suggests that EU suffered from high Unit Value Realisation (UVR) in 2019 as the value of per kg of garments remained € 17.97 as against € 16.98 in 2018.
China fell down in both values and volumes of its apparel exports to EU by 6.51 per cent and 0.20 per cent, respectively. RMG shipment from China to EU valued at € 24.35 billion in the 11-month period of 2019, while the dent was made by shortfall in quantities as the country exported around 98.34 million kg fewer garments in 2019 as compared with the same period of 2018.
As far as other Asian countries are concerned, Bangladesh – the 2nd top garment exporter to EU after China – managed to see growth marginally in volumes, while the growth was significant in value-terms.
Bangladesh upped its RMG exports to EU to € 16.47 billion in the mentioned period of 2019 as against € 15.19 billion in 2018, a great increase of around € 1.29 billion. Vietnam, on the other hand, dipped by 5.84 per cent in its quantity-wise exports and got a boost of 10 per cent in values to ship € 3.40 billion worth of apparels to EU.
India could not scale up its exports to EU in January-November ’19 period as it decelerated by 0.92 per cent in volumes, while values surged marginally by 2.20 per cent to hit € 4.71 billion.
The changing retail landscape in Europe is said to be the reason behind this disruption and less volume-wise imports by EU. As consumers’ preferences are changing and they are looking for more personalised clothing, a lot of companies are now producing small quantity of garments in Europe itself which further results in less imports, according to the industry experts.