In the first quarter of 2024, EU clothing imports continued to decline, with only a slight decrease. The decline in the first quarter decreased by 2.5% year-on-year in terms of quantity, while in the same period of 2023, it decreased by 10.5%.
In the first quarter, the EU saw a positive growth in clothing imports from some sources, with imports to China increasing by 14.8% year-on-year, imports to Vietnam increasing by 3.7%, and imports to Cambodia increasing by 11.9%. On the contrary, imports from Bangladesh and Türkiye decreased by 9.2% and 10.5% respectively year on year, and imports from India decreased by 15.1%.
In the first quarter, China's proportion of EU clothing imports increased from 23.5% to 27.7% in terms of quantity, while Bangladesh decreased by about 2% but still ranked first.
The reason for the change of import volume is that the unit price changes are different. The unit price in Euro and US dollars in China has decreased by 21.4% and 20.4% respectively year on year, the unit price in Vietnam has decreased by 16.8% and 15.8% respectively, and the unit price in Türkiye and India has decreased by a single digit.
Affected by the decline in unit prices, the EU's clothing imports from all sources declined, including 8.7% in US dollars for China, 20% for Bangladesh, and 13.3% and 20.9% for Türkiye and India, respectively.
Compared with the same period five years ago, the EU's clothing imports to China and India decreased by 16% and 26% respectively, with Vietnam and Pakistan experiencing the fastest growth, increasing by 13% and 18% respectively, and Bangladesh decreasing by 3%.
In terms of import amount, China and India saw the largest decline, while Bangladesh and Türkiye saw much better results.
Post time: Jun-10-2024