31 March 2023, Mumbai
The latest data on the European Union's (EU) apparel import statistics and trends, here are a few analyses:
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Bangladesh and China remain the top two apparel import sources for the EU: The EU's apparel import from Bangladesh grew significantly in 2022, making it the second-largest apparel import source for the EU after China. China still holds the top spot with a 29.24% share of the EU's total RMG import.
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Import growth from top sourcing countries: The EU's imports from Turkey, India, and Vietnam grew significantly in 2022, with Turkey being the third-largest source of apparel imports for the EU. Additionally, imports from other top-sourcing countries such as Cambodia, Pakistan, Morocco, Sri Lanka, and Indonesia also saw positive growth.
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Annual growth trends: Over the past ten years (2012-2022), the value of the EU's apparel import from Bangladesh has grown by an average of 9.15% annually, while their import from the world has shown a 3.17% average annual growth. China's import growth has been relatively stagnant during this period.
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Negative annual growth for Indonesia: Among the top ten apparel-supplying countries in the EU, Indonesia is the only country that has shown negative annual growth.
Overall, the EU's apparel import trends indicate that Bangladesh and China remain the top two apparel import sources, while there is significant growth potential from other countries such as Turkey, India, and Vietnam.
CREDITS: BGMEA
