Star Business Report
Mon Dec 23, 2024 02:10 AM Last update on: Mon Dec 23, 2024 02:45 AM
Worker efficiency in the garment sector has been affected by external inefficiencies, such as power shortages and port and road congestion, industry insiders said. Photo: Star/file
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Worker efficiency in the garment sector has been affected by external inefficiencies, such as power shortages and port and road congestion, industry insiders said. Photo: Star/file
The European Union’s garment import from Bangladesh grew by 1.43 percent in the January-October period, despite a modest increase in quantity at 6.68 percent, indicating 4.92 percent decline in prices.
Importantly, unit prices declined for most suppliers in 2024 compared to 2023, reflecting competitive pressures within the global apparel industry.
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The EU’s import price from China declined by 8.63 percent in the mentioned period, according to data from the Eurostat.
The data suggests that while the EU’s overall demand for apparel remains strong, the competitive landscape is shifting, with some suppliers gaining ground while others, including Bangladesh, are experiencing challenges.
The EU’s apparel imports during January-October 2024 shows sign of recovery despite price pressures.
From January to October 2024, the EU’s apparel imports experienced a mixed trend. The EU’s apparel imports totalled USD 77.78 billion during this period, a slight increase year-on-year by 0.58 percent.
This brings EU’s year-to-date clothing import to a positive side, from negative 2.02 percent growth in January-September 2024.
While overall import value and quantity increased slightly, a closer look reveals a complex picture across different sourcing countries.
China, a major supplier, saw a slight increase in the value of apparel imports to the EU in the mentioned period, which is 1.14 percent suggesting a potential shift in the global apparel market.
Other major suppliers like Vietnam and Cambodia experienced growth by 3.31 percent and 20.66 percent respectively.
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Publish date : 2024-12-22 12:45:00
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