Bangladesh’s RMG exports to the European Union (EU) market have increased and achieved the highest growth in garment exports to these European markets. However, China is the top exporter in this market, followed by Bangladesh. These data have emerged in the report published by the European statistical agency Eurostat.
From January to November 2022, a total of $95.17 billion worth of products have been exported to the European market. Out of this, the garment products made by Bangladesh have been exported to the European market worth $21.18 billion, while China exported $27.97 billion. According to Eurostat data, buyers from Europe are still gravitating toward Bangladesh and this has been possible by increasing green factories in Bangladesh.
According to the data, EU apparel imports between January and November 2022 grew by 22.39 percent compared to the same period in 2021. During this period the EU imported garments worth $21.18 billion from Bangladesh which was $15.30 billion in 2021. Garment exports to Europe increased by 38.39 percent during the year.
According to the report, garment exports from China, which is at the top, increased by 19.29 percent. Turkey is also the EU’s third largest source of clothing. Apparel exports from the country increased by 11.56 percent.
In the first 11 months of 2022, imports from Cambodia increased by 35.89 percent, Vietnam by 34.16 percent, Pakistan by 27.99 percent, Indonesia by 27.80 percent, Sri Lanka by 17.32 percent and Morocco by 8.13 percent.
