Bangladesh surpasses China in apparel export to the EU

According to Eurostat data, the growth of apparel shipments from Bangladesh to the European Union (EU) not only surpassed that of China but also all other major suppliers in the world between January and August of this year.

During the January-August period, Bangladesh's apparel exports to the EU increased by 45.26% year on year to approximately $15.37 billion, while the trade bloc imported $67.18 billion in clothing from all over the world.

As a result, Bangladesh remains the EU's second-largest apparel import source, accounting for approximately 23% of total imports.

Bangladesh began receiving trade benefits under the EU's Everything But Arms initiative shortly after gaining independence in 1971, which eventually elevated the country to its current position.

So, even after the country graduates from the UN's grouping of least developed countries (LDC) in 2026, local suppliers remain optimistic about their potential exports.

The sector's image has improved as a result of its competitive pricing, high quality, and recent advancements in safety and compliance. Furthermore, Bangladesh is now the world champion in the green garment category.

Bangladesh already surpassed China in denim and T-shirt exports to the EU almost four years ago and in the future, local suppliers may overtake those of China in many other categories, said a major garment exporter seeking anonymity.

Faruque Hassan, president of the Bangladesh Garment Manufacturers and Exporters Association, said the country has been receiving higher prices for two particular reasons over the last two or three years.

First, buyers are paying more to adjust to the abnormal price of raw materials, and second, the country is exporting value-added garment items.

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Source: The Daily Star