Bangladesh’s garment exports to EU rise17.9pc, outpacing key rivals
Business Desk :
Bangladesh has achieved a 17.9 percent growth in ready-made garment (RMG) exports to the European Union (EU) during the first six months of the current year.
Despite this achievement, the growth rate surpasses the EU’s overall import increase, but it still lags behind key competitors like China and Cambodia, reports UNB.
According to a recent Eurostat report, Bangladesh exported 10.29 billion euros worth of apparel to the EU market from January to June, a 17.9 percent rise from the 8.73 billion euros recorded during the same period last year.
Earlier, Bangladesh’s apparel exports to the EU surged to $9.68 billion from $8.23 billion in 2024.
Overall, EU apparel imports grew by 12.3 percent to 43.39 billion euros, up from 38.64 billion euros in the previous year.
Bangladesh is showcasing notable growth across various sectors within the EU. China maintains a higher position while Vietnam is doing better as well.
Simultaneously, continual exploration of new markets will fortify Bangladesh’s positioning for minimizing the risk of being dependent only on the EU and the USA.
China maintained its position as the top exporter, with its exports increasing by 22.3 percent to 11.26 billion euros. Cambodia recorded the fastest growth, with its exports soaring by 30.4 percent to 2.07 billion euros.
Despite trailing China and Cambodia in growth rate, Bangladesh outperformed its main regional rivals. India’s exports stood at 2.70 billion euros, a 15.4 percent increase from 2.34 billion euros the previous year.
Pakistan’s exports rose by 16.6 percent to 1.86 billion euros from 1.59 billion euros. Vietnam also saw a healthy increase, with exports reaching 2.02 billion euros, up 17.3 percent from 1.73 billion euros a year ago.
In contrast, Turkey experienced a negative trend, with its exports declining by 7 percent to 4.27 billion euros, reflecting a decrease in demand of Turkey items in the EU market.
Bangladesh’s export’s to EU now constituting nearly half of its export destinations. As challenges in the US market persist due to tariff issues, the significance of the EU market for Bangladesh has escalated.