The European Union’s apparel imports grew marginally by 0.58% year-on-year to USD 77.78 billion in January-October 2024, recovering from a negative growth of 2.02% earlier in the year.
Bangladesh’s garment exports to the EU rose 1.43% during the period, with quantity increasing by 6.68%, but unit prices fell by 4.92%, owing to growing competition in the global apparel market.
According to Eurostat data, the EU’s import price from China dropped 8.63%, indicating competitive price pressures. While China recorded a slight 1.14% growth in export value to the EU, other major suppliers like Vietnam and Cambodia saw notable growth at 3.31% and 20.66%, respectively, signaling shifts in sourcing preferences.
The data underscores a dynamic yet challenging landscape. Overall EU apparel demand remains robust, but price declines highlight fierce competition among suppliers.
