Europe’s imports from China of $11.326 billion in the July-September 2021 quarter were the highest in the last six quarters. They spurted in April-June 2021 quarter after the COVID wave to reach $6.308 billion but began to ease in the following quarter. The inbound shipment declined to $11.252 billion in October-December 2021. They recorded a steep fall in January-March 2022 to reach $9.663 billion. The imports further dropped to $7.225 billion in April-June 2022 and $6.089 billion in July-September 2022, according to Fibre2Fashion’s market insight tool TexPro.
Annually, European imports from China were at $37.055 billion in 2021, $36.607 billion in 2020, $37.224 billion in 2019, $39.863 billion in 2018 and $38.969 billion in 2017. The region imported apparel worth $22.978 billion in the first nine months of the current year.
Europe’s apparel imports from China have been falling since July-September 2021, but the pace of decline increased in April-June quarter of this year. The trend is reflecting the economic challenges faced by Europe due to the Ukraine war after the disastrous pandemic. The imports came down to $6.089 billion in Q3 2022 from $11.326 billion in Q3 2021.
Fibre2Fashion News Desk (KUL)