The massive drop in unit prices of garments has resulted in a stellar surge in clothing imports of the European Union, according to the data released by Eurostat.
Unit Value Realisation (UVR) in the period was € 17.05 per kg of fabric equivalent as against € 18.65 in the same period last year. The rebound of the euro from a year earlier boosted demand from European buyers and due to a fall of unit prices in euro terms by 8.58 per cent on the yearly note, value of imports plummeted by 1.09 per cent.
The shipments from Bangladesh continued to cover the larger chunk in the European market beating even China which is losing ground in its clothing exports to EU.
Bangladesh clocked € 1.44 billion in the April month while China’s exports could just hit € 1.15 billion in the month indicating Bangladesh is clearly pacing up to match the Chinese shipment values in EU.