Discover the latest trends in European apparel and textiles exports, showcasing remarkable growth of 7.9% and 5.6% in the first three quarters of 2023, as reported by the esteemed French Fashion Institute (IFM). Uncover key insights from the recent Fashion Reboot conference in Paris, shedding light on the evolving dynamics of European textile and apparel imports.
Shift in Import Trends
In contrast to the previous year’s robust growth, European apparel imports are experiencing a notable shift. The unit value of apparel imports grew modestly by 2.6% in the January-September period of 2023, compared to a substantial 18.1% surge in the previous year. Dive into the intricacies of this trend, attributed to a 14% downturn in apparel imports’ value and a 16% decrease in volume during the first nine months of 2023.
Explore the nuanced impact of inflation on import values and the consequential decline in actual import volumes. The market’s current weakness, coupled with excess inventory from heightened imports in the previous year, has resulted in a decline, deviating from the upward trend observed in exports.
Sourcing Landscape Transformation
Delve into the implications of the decline in European apparel imports on major supplier countries within the EU. Analyze the significant reductions in imports from key countries, including Bangladesh, China, Hong Kong, Turkey, Pakistan, India, Cambodia, and Burma, ranging from 11% to 23%.
Navigate through the evolving sourcing map, with China and Hong Kong experiencing a share decrease from 30.3% in 2020 to 27.2% in the first nine months of 2023. Witness the collective rise of other Asian countries, securing a 45.5% share and consolidating Asia’s dominance with a 72.7% share of European apparel imports.
Steadfast Growth in Exports
Gain insights into the sustained growth trajectory of European exports, surpassing values recorded in 2019. Projections estimate a notable 7.6% increase in apparel exports, reaching €14.2 billion in 2023. Uncover the factors contributing to this growth, including a 15.9% surge in exports to Asia and notable increases in key markets such as China, Hong Kong, Japan, and the USA.
Unravel the recovery journey of European apparel exports from the downturn in 2020, reaching €13.2 billion in 2022 and €10.6 billion in 2021. Explore the promising outlook for textile exports, anticipating a 5.6% increase in 2023, with detailed analyses of growth patterns in Asia, including China and Hong Kong, and shifts in exports to the EU, Japan, and the USA.
