Jersey Market - EU Knitted Jerseys Imports From Asia Posted Solid Growth, Edging European Producers Out Of The Market
Knitted and Crocheted Apparel August 09, 2016
Photo: © denisfilm / Bigstockphoto
Knitted jerseys imports have been increasing steadily to their maximum value over the last three years. Imports growth has been fueled by supplies from Asian countries, shrinking the share of European manufacturers to nearly 10% of apparent consumption. Meanwhile, the growth of knitted jerseys imports from Bangladesh, Turkey, and Cambodia is well ahead of the Chinese imports growth.
Total imports on the EU jersey market in the EU Member States have been growing steadily over the last three years, reaching their peak of 17,825 million EUR in 2015. Data on EU trade with the non-EU countries displayed that the EU remains a net importer of jerseys, pullovers, cardigans, and similar articles.
Germany (22%), the UK (16%), France (14%), and Italy (10%) were the leaders among European countries in terms of the import value of jerseys, pullovers, cardigans, and similar articles, together comprising 62% of total EU imports. The share of the UK (-2 percentage points each) illustrated negative dynamics, while Germany's (+2 percentage points) share increased from 2007 to 2015.
Non-EU countries supplied the major value of imports, with extra-EU imports accounting for about 58% of the total imports. In 2015, the value of extra-EU imports of jerseys, pullovers, cardigans, and similar articles reached 10,409 million EUR, which was 7% more than the year before.
The share of extra-EU imports in the apparent consumption of jerseys, pullovers, cardigans, and similar articles increased steadily over the recent eight years and reached an astounding 89%.
The growing supply of imported goods, especially from China, Bangladesh, Turkey, and Cambodia, serves to actively displace the EU producers from the market. In addition, the transfer of manufacturing to the developing Asian countries with cheap labor has long been the global trend in the apparel market. This also increases the pressure on the European clothing industry.
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