EU15 textile and clothing import growth slowed markedly in value after the late 1990s, and in recent years imports have even declined. After rising in value in 2000-01, imports fell marginally in 2002-03. But in 2004 growth resumed with an increase of 3.4% to Euro66.7 bn (US$89.3 bn). In volume terms imports have continued to increase over the years. In 2004 they rose by 7.5%, reaching 7.44 mn tons.
Price competition among suppliers has intensified as trade liberalisation has progressed. In 2004 the average import price fell by 3.8%, following declines in 2001-03. This brought the total decline between 2000 and 2004 to almost 19%.
The fall in import prices is causing concern among EU producers, who are finding it increasingly difficult to match the lower price levels. Furthermore, EU exporters suffered in 2002-04 from the appreciation of the euro against the US dollar. This eroded the gains made in 2001 when the euro weakened. With export growth weak and import volumes up, EU15 textile output fell by 4.9% in volume having fallen by 3.5% in 2003. EU15 clothing production, meanwhile, declined by 6.1% in volume following a 6.7% fall in 2003.
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