Bangladesh is the second exporter of clothing in the European market
In 2022 Bangladesh's apparel exports increased by 35.69 percent compared to 2021 in the European Union (EU). During this period, Bangladesh exported garments worth 22.89 billion US dollars and maintained its position as the second largest exporter.
According to Eurostat figures, EU apparel imports from around the world increased by 20.97 percent in 2022. Among the major exporting countries, Bangladesh has been able to achieve the highest export growth there.
In this regard, Bangladesh Garment Manufacturers and Exporters Association (BGMEA) Director Mohiuddin Rubel said, overall Bangladesh's garment exports to the EU in 2022 were quite good. But as high growth was achieved in the first 6 months (January-June) of that year, it came down a lot in the next 6 months. The main reason for this was the first 6 months post-Covid-19. As a result, customers bought more clothes. Also, we did well because of the lockdown in China.
He said, in the next 6 months (July-December), the demand for clothing started to decrease due to the impact of the Russia-Ukraine war and rising inflation in Europe. Which has also affected our exports. In addition, due to the increase in production costs, entrepreneurs are now worried about sustaining export growth in the EU, he said.
According to Eurostat figures, exports from China, the top apparel exporter, to the European Union increased by 17.1 percent. In 2022, EU imports from China were 30.14 billion dollars.
Apparel imports from Turkey, the EU's third-largest source of apparel imports, increased by 10.09 percent and reached $11.98 billion.
EU imports from India and Vietnam increased by 21.02 and 35 percent respectively. (bass)
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