Decline in EU clothing imports narrows, showing signs of recovery

According to Eurostat data, EU clothing imports began to recover after a full year of silence in 2015 with the sharp decline in the exchange rate of the euro against the US dollar. In December 2015, EU clothing imports continued to decline, but the year-on-year decline began to narrow. Total clothing imports fell by 1.6% year-on-year, much lower than the 6.2-11.5% from September to November. If imports from January to February 2016 continue to recover, the EU’s clothing imports are expected to bottom out and rebound in the next few months.

In US dollar terms, EU clothing imports fell by 3.6% year-on-year in December 2015, which was also lower than the 7.4% in November. Throughout 2015, the EU’s clothing import volume and import value decreased by 4.6% and 8% respectively year-on-year. In euro terms, imports increased by 9.9%.

In December 2015, the unit price of EU clothing imports fell by 2.05% year-on-year, the largest decline since July last year (6.4%). China and other regions benefited from the recovery of the EU apparel import market in December. Imports from China decreased by 10.5% year-on-year, down from 16% in November, while imports from other regions increased by 4.5% year-on-year, which was greater than the 1.3% increase in November.

Throughout 2015, the number of clothing imported by the EU from China decreased by 12.5% year-on-year, while the number of clothing imported from other regions increased by 1.3% year-on-year. In December, the unit price of clothing imported by the EU from China fell by 0.2% year-on-year in US dollars, the first decline since July last year. The unit price of clothing imported by the EU from other regions fell by 3.7% year-on-year, which was smaller than the 4.2% decline in November.

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