Written by The Banking Post
Bangladesh’s ready-made garment (RMG) exports to the European Union (EU) rose 17.9 percent during the first half of the year, strengthening the country’s position as the EU’s second-largest apparel supplier.
According to Eurostat, Bangladesh exported €10.29 billion worth of apparel to EU markets from January to June, up from €8.73 billion in the same period last year. Overall, EU apparel imports increased by 12.3 percent to €43.39 billion, compared with €38.64 billion in the previous year.
Despite the robust growth, Bangladesh faces stiff competition from China and Cambodia. China maintained its top-exporter status with €11.26 billion in shipments, up 22.3 percent, while Cambodia posted the fastest growth, rising 30.4 percent to €2.07 billion.
Bangladesh’s performance, however, outpaced other regional competitors. India’s exports grew 15.4 percent to €2.70 billion, Pakistan’s rose 16.6 percent to €1.86 billion, and Vietnam’s exports increased 17.3 percent to €2.02 billion. In contrast, Turkey’s apparel exports to the EU fell 7 percent to €4.27 billion.
Experts say Bangladesh’s growth, higher than the EU average and many regional peers, reinforces its competitive position. Yet, trailing China and Cambodia highlights intensifying competition in the EU market.
