European and American clothing imports continue to decline! The United States has seen the largest decline in this type of clothing

The data for the third quarter of this year shows that clothing imports from Europe and America continue to show a downward trend. Among them, the EU’s clothing imports to China in the third quarter decreased by 17.9% year-on-year, and the import amount decreased by 24%. Although the decline in clothing imports in the third quarter of the United States has slowed down, the decline in cotton clothing imports is still significant, decreasing by nearly 20%.

EU clothing imports reduced by nearly 20%

In the third quarter of 2023, EU clothing imports continued to decline significantly, with a year-on-year decrease of 17.7% in import volume and a year-on-year decrease of 18.5% in import value in US dollars.

In the third quarter, the EU’s clothing imports from Türkiye decreased by 25.8% year on year, mainly due to the rise in retail prices and the rebound in the lira exchange rate. In the third quarter, the EU’s clothing imports to China decreased by 17.9% year-on-year, with a decrease of 24% in imports and a decrease of 16% in imports to Bangladesh, with a decrease of 22% in imports.

From the perspective of import volume, the decrease of EU’s import volume to Türkiye is smaller than that of China and Bangladesh, because the unit price of Türkiye’s clothing has increased by 16.5% and 7.8% respectively in terms of dollars and euros.

In the third quarter, the unit price of Türkiye’s clothing imports fell by 1% year-on-year in dollar terms and 8.4% in euro terms. Calculated in euros, the import prices of China and Bangladesh have decreased by 14.4% and 14% respectively. In US dollars, China and Bangladesh fell 7.5% and 7% respectively.

In the third quarter, Türkiye’s imports from most countries decreased. Although China’s market share has decreased, it remains the largest source of supply for EU clothing imports in the third quarter, with Bangladesh ranking second.

Compared with the same period four years ago, in the third quarter, the EU’s clothing imports to China decreased by 22%, imports decreased by 13%, imports to Bangladesh increased by 5%, and imports increased by 9%.

The decline in cotton clothing imports in the United States is still significant

In the third quarter of this year, the decline in US clothing imports slowed down, with cotton clothing imports experiencing a greater decline than chemical fiber and wool clothing.

In the third quarter, the import volume of clothing in the United States decreased by 16.46% year-on-year. Previously, the import volume in the first and second quarters of 2023 decreased by 30.14% and 29.28%, respectively. In the third quarter, the import of cotton clothing in the United States decreased by 19.30%, wool clothing by 15.12%, and synthetic clothing by 15.69%.

In the third quarter, the import volume of various types of cotton clothing continued to decline significantly. Except for men’s/* * non knitted shirts and sweaters, the import volume of other cotton clothing decreased by 20-46%. In chemical fiber clothing, except for a decrease of only 2.36% in men’s/* * sweaters and a decrease of 9.11% in men’s/* * non knitted shirts, the decline in other categories has exceeded 10%, generally reaching 15-50%.

In the third quarter, the import unit price of clothing in the United States fell again, with a year-on-year decrease of 6.9%. Cotton clothing fell by 5.9%, chemical fiber clothing fell by 7.5%, and wool clothing increased by 6.6%. The trend of unit price changes for various products is vastly different. Despite the decline in import prices in the third quarter, most products are still higher than the same period five years ago.

In the past five years, the import volume of cotton clothing in the United States has decreased by 16%, while the import volume of chemical fiber clothing has only decreased by 7%. The import volume of women’s/* * cotton pants has decreased by 35%.

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