Bangladesh has overtaken China for the first time to reach at the top position in terms of exports of manufactured garments to the European Union (EU) market. Although the export price of Bangladeshi-made garments is 5.82 USD per kg less than that of China, while China’s garment exports are 7.26 billion dollars more than Bangladesh.
Bangladesh exported the highest 1.33 billion kg equivalent of ready-made garments to the EU market last year in comparison with all other countries in the World. On the other hand, China exported 1.31 billion kg of ready-made garments. Bangladesh’s clothing exports increased by 21.20% in terms of volume from last year, but China increased by only 11.86%.
BGMEA, the association of garment industry owners showed data from Eurostat, said recently that the EU imported 103 billion USD worth of garments from different countries of the World last year. Compared with 2021, the import of clothing in the EU market increased by 20.97% last year.
Bangladesh has advanced in terms of exported garments, but is below China in terms of monetary value of export. China exported $3.01 billion worth of ready-made garments to the EU last year. The country’s exports increased by 17%. And Bangladesh last year exported 2.29 billion USD worth of ready-made garments. This export is 35.69% percent more than in 2021.
Last year, Turkey exported clothes worth 1.98 billion dollars to the EU market, the third highest after Bangladesh and China. In addition, India exported 486, Vietnam 457, Pakistan 394, Cambodia 381, Morocco 312, Sri Lanka 162 and Indonesia 136 million dollars’ worth of ready-made garments.
Bangladesh is the second-highest low-cost apparel exporter in the EU market. The average price of garment exported by Bangladesh last year was 17.27 dollars, which was 15.42 dollars a year ago i.e. in 2021.
That means the average price of Bangladesh’s exported garments increased by about 12% from last year. Last year, Pakistan exported garments at a lower price than Bangladesh. The average price of their exported ready-made garments is $14.5 per kg.
Whereas the EU imported clothes from various countries at an average price of 22 dollars 48 cents per kilogram last year. Vietnam exported most of their clothing at $31 per kilogram. The second and third highest exporters in this regard are Indonesia and Morocco, respectively, exporting $29.88 and $29.69 per kg of clothing.
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