Germany is an important country in the European Union. As the number of cases of the new crown epidemic in the EU has risen again, and some areas of the country have implemented blockades, imports of ready-made clothing and fabrics are expected to decline in the next few months. The intra-EU trade is also affected, because most EU countries (such as France and Italy) are also subject to blockade restrictions.
The total value of German clothing and fabric imports in 2019 was US$40.69 billion, an average of US$3.39 billion per month. In 2020, imports fell by 4.36% to 38.92 billion U.S. dollars, mainly due to the impact of the new crown pandemic.
According to Fibre2Fashion’s market intelligence tool TexPro, from January to June 6, 2021, the average monthly import value is expected to drop by 1.95% to 3.18 billion U.S. dollars. In 2020, it will be 3.24 billion U.S. dollars per month. This is mainly because in the first half of 2021, most of the EU countries/regions, including Germany, were blocked, and clothing and fabric shops were also closed.
In 2020, German clothing and fabric imports will increase from September 2020. In the second half of 2020, China and Turkey are respectively the main exporters of German clothing and home textiles.
Following the blockade due to the second and third wave of the new crown epidemic, the German retail industry was severely affected. 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 due to the virus lockdown.
In addition, Myanmar is one of Germany’s main garment exporters, but due to the turbulent situation in the country, the order has not been fulfilled.
Throughout Europe, many countries/regions, including Germany, continue to implement epidemic lockdown restrictions. The reopening date of the German retail store has not yet been announced.
Post time: May-25-2021