EU apparel imports continued to rebound in May, although the rebound was reduced due to base issues. During the month, EU apparel import volume increased by 12.9% year-on-year, and the volume in Apr increased by 30% year-on-year. In terms of US dollars, EU apparel imports in May increased by 4.5% year-on-year, and increased by 17.5% in Apr. The reason for the reduction in the growth rate was the large base in May 2023.
Even so, EU apparel imports from China in May increased by only 0.5% year-on-year, significantly lower than the 32.4% in Apr. In contrast, EU imports from Bangladesh increased by 18.9% year-on-year, and imports increased by 20% year-on-year in euros.
It is clear that after a brief rebound in Chinese apparel exports to the EU, Bangladesh is experiencing long-term rapid growth. Compared with the same period five years ago, EU apparel imports from China decreased by 12%, while Bangladesh increased by 17%.
