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Apparel sector sees highest growth in EU market during January-August

| Updated: December 04, 2022 09:05:19


Apparel sector sees highest growth in EU market during January-August

The European Union's (EU) apparel imports from Bangladesh saw the highest growth among all the top exporter countries during January-August this year, Eurostat, the statistical office of the EU, said.

During the first eight months of 2022, the EU imported clothing worth $67.18 billion from around the world, including $15.37 billion from Bangladesh.

Bangladesh remained the second largest apparel import source for Europe with a 22.89 per cent share of the EU's total apparel import, reports UNB.

The EU's apparel import from Bangladesh increased by 45.26 per cent during the first eight months of 2022 compared to the same period in 2021.

China, the top apparel import source for the EU, had 28.06 per cent share, registering 26.59 per cent year-on-year growth. The EU's apparel imports from the country reached $18.85 billion in January-August this year.

"While China had the larger share of the EU's total apparel import, Bangladesh saw better export growth than it," Bangladesh Garment Manufacturers and Exporters Association (BGMEA) Director Md Mohiuddin Rubel said.

Turkey, the third largest source for the EU, posted 20.38 per cent growth during the same period. The EU's imports from the country grew by 16.97 per cent.

Also, the EU imported apparel worth $3.56 billion from India. The EU's imports from the country grew by 28.85 per cent compared to the previous year.

Other top countries having high growth were Cambodia 42.21 per cent, Pakistan 31.34 per cent, and Indonesia 35.41 per cent.

"Bangladesh's apparel has always done well in the European market. So far the import figure of the EU indicates a good position for Bangladesh's apparel in the market. Numbers from January to August indicate that the EU's imports from Bangladesh will maintain a positive trend till September," Rubel said.

"However, it may slow down afterwards as retail sales are already affected by geopolitical tension, global economic turmoil and buyers being cautious about overstock and current production."

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