How did EU-27 textile and apparel imports perform in Jan-Feb?
Source: chinatexnet Date: 2022-05-18
The epidemic in China has greatly affected people's lives and the sales ratio of mills, while the European and American markets have gradually relaxed their lockdown measures where the production and life of the people have gradually returned to normal, and the situation of mills returning to work and production is good. The war between Russia and Ukraine has had a great impact on the European market, so did it also affect the demand of the textile and apparel market?
According to the latest data, EU-27 textile and apparel import volume in Jan reached 1.057 million tons, up 13% over the same period last year, and maintained a good growth in Feb from the perspective of sub-market imports. The latest data showed that from January to February, EU-27 textile and apparel imports from China, Bangladesh, India, Pakistan, Vietnam and Turkey increased by 10.2% year-on-year, and the above regions accounted for nearly 80% of the total imports. The sharp growth in these regions showed that EU-27 textile and apparel imports in Jan-Feb performed well.
EU-27 textile and apparel imports in Feb was expected to increase to a certain extent, but the growth rate may gradually decrease. The import demand in Feb has not been significantly affected by the war between Russia and Ukraine. From the perspective of the EU's main import sources, imports from Bangladesh and India have grown rapidly since the second half of last year.
Last year, China's share of EU-27 textile and apparel import market decreased, while Turkey, Bangladesh, India and Pakistan increased significantly. On the one hand, the decline in the proportion of China's exports to the EU was due to the fact that part of the demand has shifted to the nearest market due to the epidemic. On the other hand, the sanctions on Xinjiang cotton also shifted some demand to India and Bangladesh, which was why cotton exporters such as Uzbekistan, India and Vietnam were more willing to export cotton yarn to Bangladesh, South Korea and European markets since last year. Tariffs and downstream processing costs in those countries enabled processors to be accepting of higher cotton yarn prices than China. Although the EU has gradually relaxed its epidemic prevention policy and people's production and consumption have returned to normal, the epidemic is still an uncertain factor affecting the global market.
