EU's Apparel Imports Down Two Percent in First Four Months of 2017

From January to April 2017 EU’s apparel imports dipped 2.88 per cent. China’s quantity-wise apparel exports to the EU dropped by 3.31 per cent. Vietnam, Bangladesh and India too saw a drop in quantity-wise exports by 0.78 per cent, 1.76 per cent and 2.06 per cent respectively.

Weak euro and the fall of the sterling were the main reasons behind the decline. Falling demand is another reason. Retail stores are rapidly closing in Europe and renowned clothing brands are cutting their apparel quantities. The increase in unit prices has also impacted EU imports negatively. There was also a rise in unit value realization, which indicated that the EU is importing apparel by paying more value to the exporting countries.

This change in retail landscape and consumer behavior is shifting demand from in-store shopping to online purchasing, making the EU a tech-driven market. The EU is the second largest apparel importer in the world. In the second half of 2017 how the EU’s apparel sector fares would depend on global economic conditions as well as trade policies across the world. The transition from retail store to digital shopping might take some time to really build up and in the meantime demand for imports may rise or remain steady.