Bangladesh ranks second in the export of Readymade Garments (RMG) to the European Union (EU).
According to Eurostat statistics, the European Union (EU) apparel imports from Bangladesh increased by 35.69 percent in 2022 compared to that in 2021.
Confirming this, Bangladesh Garment Manufacturers and Exporters Association (BGMEA) Director Mohiuddin Rubel told Bangladesh Post, “As per the statistics of Eurostat, the apparel import of European Union (EU) from Bangladesh increased by 35.69 percent in 2022 compared to that in 2021 while their imports from the world grew by 20.97 percent.
The EU imported USD 22.89 billion worth of clothing from Bangladesh in 2022.”
With 22.20 percent share of the EU’s total RMG import, Bangladesh remains the second largest apparel import source for the EU, he added.
The EU’s import from the top sourcing country China grew by 17.01 percent year-over-year. EU’s imports from China reached USD 30.14 billion in 2022.
On the other hand, the EU’s import from Turkey, the third largest apparel import source for the EU increased by 10.09 percent year-over-year and reached USD 11.98 billion. EU’s imports from India and Vietnam increased by 21.02 percent and 35 percent respectively.
Meanwhile, in terms of money, Bangladesh lags behind China in apparel exports, but is slightly ahead in terms of quantity. That means, Bangladesh is exporting clothes at a lower price than China. In the first 11 months of last year, China exported 121 million kilogram (kg) of cloth-made garments worth USD 2,798 million. And Bangladesh has exported 122 million kg of clothes worth USD 2118 million.
According to Eurostat data, the average price of textile garments imported into the EU in January to November 2022 was USD 22.39 per kilogram. The average price of China’s exported garments there was $23 and Bangladesh USD 17.21.
The data further showed that compared to 2021, the average price of clothes in 2022 increased by 12 percent.
However, BGMEA president Farque Hassan said that if we can focus on non-cotton product production, then our export earnings will go up for sure. At present the country’s dependence on cotton based products has increased compared to previous year but its price is low.
“Our industry has seen significant investment in high-value-added products in recent years. Several of our factories are exporting relatively high value items such as jackets, activewear and suits. As a result, the unit price of clothing has increased” he added.