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German raw material imports down nine per cent

Raw material imports by Germany dropped 9.4 per cent in August as textile production sank 3.3 per cent. Clothing production fell three per cent. While textile production price increased 0.9 per cent, clothing production price increased 0.7 per cent.

Because of the development of the entire German economy and the long summer months, a turnaround in the situation looks likely. Expectations are markedly lower. There is still hope for a changing trend in autumn, but the general economic risks, such as foreign trade or raw material prices, are weighing heavily. Both textile and clothing proceeds fell in August 2018.

Order intake increased steadily in textiles in August by 0.1 per cent above July. Clothing had a 13.1 per cent lower order intake. German retail has increased proceeds by 3.1 per cent above 2017.

Germany has overtaken the United States and become the largest export market for Bangladesh’s readymade garments. Due to strong economic activities in Europe, especially in Germany, and preferential treatment received by Bangladeshi exporters, Europe’s largest economy has become the largest market for Bangladeshi garment products. Bangladesh’s readymade garment exports to Germany grew 8.65 per cent in fiscal ’18 against a growth of 2.84 per cent in the US market.