Bangladesh retains 2nd place in RMG export to EU

Apparel shipments to the European Union (EU) grew 41.76 per cent year-on-year to hit $19.40 billion in the January-October period of 2022, according to data from Eurostat, the statistics department of the EU.

With this, Bangladesh retained its position as the second largest garment supplier for the EU after China, which holds a 29.39 per cent share of the trade bloc’s total apparel imports from 27 countries.

During the first 10 months of last year, the EU’s imports from China reached $25.49 billion to register growth of 22.43 per cent year-on-year, the data shows.

At the same time, imports from Turkey grew 12.82 per cent to stand at $10.12 billion while shipments from India ballooned 23.46 per cent to $4.24 billion.

The EU imported $86.74 billion worth of apparels from different sources during the period, indicating growth of 24.41 per cent year-on-year.

Among the top suppliers, shipments from Cambodia, Vietnam, Pakistan, Morocco, Sri Lanka and Indonesia increased by 39.69 per cent, 33.05 per cent, 28.55 per cent, 9.59 per cent, 18 per cent and 31.76 per cent respectively.

In terms of volume, Bangladesh’s garment exports to the EU ramped up by 27.03 per cent to roughly 1,134 million kilogrammes (kgs) in the January-October of 2022 compared to 892.73 million kgs the year before.

The EU imported some 3,885 million kgs of garments from various sources at the time, registering 21.26 per cent growth year-on-year.

China accounted for around 1,108 million kgs of this amount, posting growth of 17.32 per cent year-on-year.

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