Apparel export from Bangladesh to the EU grows 41.76%

The apparel export to the European Union (EU) — the largest destination of RMG shipment from Bangladesh — witnessed an encouraging growth of 41.76 per cent to $19.40 billion in the first ten months (January-October) of 2022, higher from $13.69 billion of the mentioned period of 2021. 

The European Statistical Office (Eurostat) revealed the latest import statistics compiled by the Bangladesh Garment Manufacturers and Exporters Association (BGMEA).

In the mentioned period, the EU countries imported apparel items worth $86.74 billion from its global sources, attaining a year-on-year (YoY) growth of 24.41 per cent from $69.72 billion in the same period of 2021, Eurostat data stated. 

According to the Eurostat data, China is the top apparel exporter to the EU, shipping apparel items worth $25.49 billion, fetching a YoY growth of 22.43 per cent to $25.49 billion in the mentioned period, higher than $20.82 billion in the same period of 2021. 

Followed by Bangladesh, Turkey is the third largest apparel exporter to the EU and also posted a YoY growth of 12.82 per cent and earned $10.12 billion during the January to September period of 2022, higher than $8.97 billion from the January-October period of 2021.

Being fourth in January-October of 2022, India posted a growth of 23.46 per cent to $4.24 billion from $3.43 billion in the same period of 2021, Eurostat data revealed.

Vietnam secured the fifth position by exporting apparel items worth $3.74 billion in the first ten months of 2022, fetching a YoY growth of 33.05 per cent from $2.81 billion in the same period of 2021. 

Among other notable global apparel manufacturers, Pakistan fetched a YoY growth of 28.55 per cent to $3.24 billion, Cambodia 39.69 per cent to $3.16 billion and Morocco 9.59 per cent to $2.67 billion during the January to October period of 2022, Eurostat data showed. 

However, among the top ten apparel suppliers to the EU, Bangladesh attained the highest growth rate. 

Apart from the value, the unit price of the apparel items also grew by 2.29 per cent to $22.22 per kg. 

The unit price of Bangladeshi items posted a growth of 11.59 per cent to $17.11 per kg whereas that of China, Turkey, India, and Vietnam grew by 4.35 per cent to $23.02, 1.56 per cent to $25.29, 1.76 per cent to $23.13, and 2.54 per cent to $30.48 per kg respectively.

The unit price of Bangladesh is still the second lowest among the top ten suppliers, only ahead of Pakistan ($14.49/kg), the data stated.