The European Union (EU) has kicked off 2018 with a massive increase in its volume-wise apparel imports. Values of imports too surged, however, unit prices witnessed a significant fall Y-o-Y and that’s a good sign for the Union.
The EU imported apparels worth € 7.79 billion (up 2.45%) in the first month of 2018 as compared to € 7.60 billion in January 2017. Interestingly, unit prices which stood at € 19.08 per kg of garments last year, declined to € 17.51 per kg of garments in January this year with a notable drop of 8.23 per cent.
Volume-wise, the EU imported 444.80 million kg of apparels during the month as compared to 398.50 million kg of apparels in January 2017. This indicates that demand from the European clothing market has somehow increased.
Of all major exporting destinations, China witnessed a slowdown in apparel exports to the EU. The apparel manufacturing giant fell in values by 3.31 per cent as it exported apparels to EU worth € 2.63 billion as against € 2.72 billion in the same month prior year.
Bangladesh, the second-largest apparel exporter to the EU, surged massively by 22.68 per cent in volumes. Against 93.08 million kg of apparel exports in January 2017, the country exported 114.20 million kg of apparel in January 2018. Values-wise too, Bangladesh jumped 6.68 per cent to earn € 1.46 billion from its apparel exports to the EU.
Markedly, to absorb the shift of apparels from China, Bangladesh kept its unit prices as low as € 20.08 per kg of garments noting a drop of 13 per cent on the yearly note.
On the other hand, India saw an increase in values of apparel exports to the EU by 2.40 per cent. The country exported apparels to the Union worth € 471.68 million in the first month of 2018.
Pakistan caught up with the rising opportunities in exports to the EU as it got a considerable boost in its apparel volume by 18.70 per cent. It exported 259.08 million kg of apparels during January 2018 worth € 22.03 million.
Bharat Tex Special Report 2026 
