German Garment And Fabric Imports Are Expected To Decline For Several Months
Germany is an important country in the European Union. With the number of new epidemic cases in the EU rising again and the blockade in some parts of the country, the import volume of ready-made clothes and fabrics is expected to decline in the next few months. Intra EU trade is also affected, as most EU countries (such as France and Italy) are also subject to blockade restrictions.
In 2019, the total value of Germany's clothing and cloth imports is 40.69 billion US dollars, with an average of 3.39 billion US dollars per month. In 2020, the import volume decreased by 4.36% to 38.92 billion US dollars, mainly due to the impact of the new epidemic.
According to TEXPRO, a market intelligence tool of fiber2fashion, the average monthly import value is expected to drop by 1.95% to 3.18 billion US dollars from January to June 6, 2021, and to US $3.24 billion per month in 2020. This is mainly due to the blockade of most EU countries / regions, including Germany, in the first half of 2021, as well as the closure of clothing and fabric shops.
In 2020, Germany's imports of ready-made clothes and fabrics will increase from September 2020. In the second half of 2020, China and Turkey are the main exporters of German ready-made clothing and household textiles respectively.
Subsequently, the German retail industry was seriously affected by the blockade due to the second and third wave of new epidemic. Since December 16, 2020, many retail stores have closed. A top Swedish retailer closed 20% of its stores across Europe in the first quarter of 2021, also because of the epidemic.
In addition, Myanmar is one of Germany's major garment exporters, but due to the volatile situation in the country, it was unable to fulfill the order.
Throughout Europe, many countries / regions, including Germany, continue to implement epidemic blockade restrictions. The date for the reopening of German retail stores has not been announced.
(source: Jinqiao textile net)
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