EU'S Sharp Decline In China'S Clothing Imports In The First Half Year

In June, the EU's clothing imports declined sharply because of the sharp fall in the euro exchange rate, the sharp fall in China's clothing imports and the increase in the export of Bangladesh garment factories, which led to a decline in exports to the EU.

Data show that in June, EU clothing imports decreased by 8% compared with the same period last year, and imports fell by 6% in dollar terms, down 2.9% from the euro.

Since the beginning of this year, the depreciation of the euro has led to an increase in the cost of clothing imports in the EU. In June, the EU clothing import average price rose by more than 6% over the same period, rising by only 1.3% in dollar terms.

In the 1-6 month of this year, the EU clothing import price rose by 7.6% in euros, down 7% in the same period last year. In dollar terms, the EU clothing import price rose only 0.4% in 1-6 months, up 4.3% over the same period last year.

In June, the EU's imports of clothing to China decreased by 10.5% compared to the same period last year, and the total import volume decreased 1-6 in the 1-6 months. At the same time, the EU's imports to other countries increased by 2.1%.

In June, the EU's imports of clothing from other parts of China decreased by 6.6% over the same period last year, mainly because the EU's imports of Bangladesh clothing fell by 8.9% over the same period last year, the first decline since March 2018 and the worst performance since February 2017.

In the 1-6 months of this year, the EU's imports of Bangladesh increased by 3.2% compared to the same period last year, compared with 14.9% in the same period last year. During this period, the euro exchange rate fell, while Bangladesh garment factory wages rose. In May, the EU's import price of Bangladesh clothing imports rose 5.5% over the same period, up 3.2% in June.