Bangladesh exports garments of $9.58 billion to Europe in 5 months

Bangladesh exported readymade garments worth $9.58 billion US dollar to European Union (EU) countries in five months- January to May, this year. 

The information emerged in a report of the European statistical agency ‘Eurostat’.

Mohiuddin Rubel, Director of Bangladesh Garment Manufacturers and Exporters Association (BGMEA) said this information to the media on Sunday (August 28). 

He said the latest statistics on the import of clothing in the European Union from January to May, 2022 have been published. According to the statistics, garments exports from Bangladesh to the European Union increased by 44.95 percent and the country exported a total of $9.58 billion US dollar during the said period. During this period, the import of garments in the European Union increased by 24.37 percent. Apparel exports from China to the European Union increased by 20.67 percent to reach $10.19 billion US dollar.

Other countries which achieved significant growth include Cambodia at 32.68 percent, Pakistan at 29.28 percent, Indonesia at 25.36 percent, Vietnam at 22.34 percent and Morocco at 20.05 percent. So far the EU import figures indicate the good position of Bangladeshi garments in the EU market. But, due to recent geopolitical tensions, retailers are struggling to adapt to the increasingly inflationary global market. Retail sales of many European brands have declined, increasing their inventory stocks. Considering all these factors, there is a risk of decline in our exports to the EU market in the future.