The apparel import of the European Union (EU) from the world has declined by 9.61% during the first eight months of 2023, according to data released by EUROSTAT. This represents a decrease from US$ 67.66 billion in January-August 2022 to US$ 61.15 billion in January-August 2023. The quantity of apparel imported by the EU also declined by 14.64% during the same period, from 3 billion kilograms to 2.56 billion kilograms.
Bangladesh, the EU's second-largest apparel supplier, saw its exports to the EU decline by 13.71% in value terms during January-August 2023, from US$ 15.45 billion in January-August 2022 to US$ 13.33 billion. In terms of quantity, Bangladesh's exports to the EU declined by 15.07% during the same period, from 906.85 million kilograms to 770.17 million kilograms.
China, the EU's largest apparel supplier, saw its exports to the EU decline by 14.13% in value terms during January-August 2023, from US$ 18.86 billion in January-August 2022 to US$ 16.19 billion. In terms of quantity, China's exports to the EU declined by 13.05% during the same period, from 800.34 million kilograms to 695.88 million kilograms.
Turkey, the EU's third-largest apparel supplier, saw its exports to the EU decline by 10.89% in value terms during January-August 2023, from US$ 8.24 billion in January-August 2022 to US$ 7.35 billion. In terms of quantity, Turkey's exports to the EU declined by 23.23% during the same period, from 318.92 million kilograms to 244.83 million kilograms.
Despite the overall decline in apparel imports from the world, the EU's unit price of apparel imports increased by 5.89% in January-August 2023. This increase was driven by higher prices from China, Turkey, Vietnam, Sri Lanka, and Indonesia. Bangladesh was the only top supplier to experience a lower unit price during this period.
Overall, the apparel import data for January-August 2023 suggests that the EU apparel market is facing some challenges. However, it is important to note that this data is only preliminary and may be revised in the future.
