Bangladesh’s apparel exports to the European Union in 2024 increased by 4.8 per cent to 18.27 billion euros from 17.44 billion euros in 2023 riding on the late year surge in shipment.
According to data from the Eurostat, the statistical office of the EU, Bangladesh’s knitwear segment saw a notable increase in 2024, rising from 10.66 billion euros in 2023 to 11.04 billion euros in 2024, with 3.6 per cent increase.
The woven apparel sector also saw stronger growth of 6.7 per cent, increasing from 6.78 billion euros in 2023 to 7.24 billion euros in 2024.
Data showed that December 2024 marked a strong finish to the year for EU apparel imports from Bangladesh, with total imports rising by 36.2 per cent to 1.54 billion euros compared with those of 1.13 billion euros in December 2023.
The EU data also showed that Bangladesh’s apparel exports to the 27-nation economic bloc in past one decade increased by 58 per cent to 18.27 billion euros in 2024 from 11.54 billion euros in 2015.
According to the data, between 2015 and 2019, Bangladesh’s apparel exports to the EU grew steadily by 7 to 9 per cent annually, reaching 14.96 billion euros by 2019.
However, in 2020, the Covid pandemic caused a sharp decline of 17.6 per cent, with exports falling to 12.32 billion euros.
The apparel exports to the EU then rebounded strongly, with a 16-per cent growth in 2021, reaching 14.29 billion euros, and a remarkable 53-per cent increase in 2022 and thus soaring to 21.91 billion euros.
In 2023, Bangladesh’s apparel exports to the EU dropped by 20.4 per cent to 17.44 billion euros due to global challenges, including war and high inflation, but by 2024, the sector showed resilience, with exports rising by 4.8 per cent to 18.27 billion euros.
Data showed that the overall apparel imports by the EU from different countries in 2024 slightly increased by 1.37 per cent to 85.48 billion euros from 84.33 billion euros in 2023.
Bangladesh remained the second-largest apparel exporter to the EU after China.
China retained its position as the EU’s largest apparel exporter in 2024, with exports rising by 2.3 per cent to 24.04 billion euros from 23.5 billion euros in 2023.
The EU’s apparel imports from Turkey in 2024 declined by 6.7 per cent to 9.31 billion euros from 9.29 billion euros in 2023.
The EU’s apparel imports from India increased by 1.9 per cent to 4.18 billion euros in 2024 compared with those of 4.1 billion euros in the preceding year.
Vietnam’s apparel exports to the EU in 2024 grew by 4 per cent to 3.98 billion euros from 3.82 billion euros in 2023.
Cambodia and Pakistan had stellar performance in exporting readymade garments to the EU in 2024.
The EU’s apparel imports from Cambodia in 2024 increased by 20.3 per cent to 3.9 billion euros compared with those of 3.24 billion euros in the previous year.
Pakistan’s apparel exports to the EU increased by 11.6 per cent to 3.51 billion euros in 2024 compared with those of 3.13 billion euros in 2023.
