According to Eurostat data, the European Union’s (EU) imports of ready-made garments from around the world experienced an 8.09 per cent decrease in the first half of 2023, amounting to € 40.38 billion. This marked a decline from € 43.93 billion recorded during the same period in 2022.
In the initial half of 2023, Bangladesh – the top apparel exporter to the EU market – experienced a 12.69 per cent decline in its apparel exports to the European Union, with the value dropping from € 10.37 billion in the same period of 2022 to € 9.06 billion euros.
This decrease was attributed to a reduced demand for clothing across the 27-nation economic bloc, primarily caused by increased inflation levels.
Specifically, the data revealed that the EU’s import of apparel from China during the initial six months of 2023 decreased by 12.15 per cent, reaching € 9.77 billion, as compared to € 11.12 billion reported in the same period of 2022.
Furthermore, the EU’s imports of apparel from Vietnam between January and June 2023 saw a marginal decline of 1.39 per cent, totaling € 1.78 billion. This figure decreased from € 1.81 billion observed in the corresponding period of 2022, as indicated by EU data.
