The country’s ready-made garment export to the European Union (EU) during the last January-July period was much lower in terms of value than that of volume.Exporters and experts attributed sluggish global demand, depreciation of euro and market shift from China to the declining trend of apparel prices.The EU’s apparel import from Bangladesh in terms of value grew by 3.92 per cent to €9.52 billion from €9.16 billion for the seven months, according to Eurostat data.The same in terms of volume rose by 15.75 per cent to 749.20 million kilograms, up from 647.23 million kilograms of last year.The data showed the EU’s overall apparel import from across the globe during the period increased by 5.58 per cent to 2.73 billion kg.In terms of value, it witnessed a meagre 0.06 per cent growth with earnings of €46.66 billion.China’s apparel export both in value and volume to the EU witnessed negative growth by 6.76 per cent and 5.03 per cent respectively, according to the data.Meanwhile, Vietnam’s export to the same market grew by 2.42 per cent and 19.26 per cent in terms of value and volume respectively.The data indicates that the unit price of local apparel is gradually declining despite Bangladesh’s moving towards mid- and high value-added items, said Fazlul Hoque, former president of Bangladesh Knitwear Manufacturers and Exporters Association.Except China, the major export players are Bangladesh and Vietnam. Market pressure is driving the shrinking trend of apparel prices, he told the FE.Now, consumers have many alternatives of spending money on apparel, Mr Hoque explained.Euro’s depreciation might also have a negative impact on the European Union’s import, he added.KhondakerGolamMoazzem, additional research director at the Centre for Policy Dialogue, said prices slowed down not only for low-end apparel items but also for medium- and high-end products.China and Vietnam have diversified product baskets, including medium and high value-added items, he said.But the growth in terms of value is slow for Vietnam while it is negative for China, he explained.MrMoazzem said orders are shifting from China to other markets, including Bangladesh and Vietnam, which offer comparatively low prices.Bangladesh might take the advantage in terms of volume, he said, terming the market situation challenging as it does not give any clear direction.According to official data, around 64.12 per cent of the country’s total $30.61-billion clothing export was destined to the EU in the last fiscal year.
