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EU textile imports plummet amidst economic slowdown

23 Feb '24
3 min read
Pic: Adobe Stock
Pic: Adobe Stock

Insights

  • EU textile imports decline due to economic slowdown and stringent regulations, with a **.* per cent drop in apparel imports in 2023.
  • China and Bangladesh lead the decrease.
  • Men's apparel imports increase by **.* per cent, while other categories decline.
  • Sluggish economy and geopolitical tensions pose further challenges, with limited growth forecast for 2024.

Rigorous regulations and standards concerning product safety, labour practices, and environmental sustainability are enforced by the EU, prerequisites for suppliers seeking access to these markets. Additionally, shifting consumer preferences, fashion trends, and technological advancements continually shape import patterns across the EU regions. Nevertheless, recent years have seen a decline in exports.

Figure *: European Union apparel trade (in $ bn)

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