RMG export to EU sees 43.38% growth in Jan-Jul’22; Eurostat

The export of readymade garment (RMG) items to the European Union (EU) from Bangladesh experienced positive growth of 43.38% to $13.15 billion during the first seven months (January-July) of 2022, according to the latest import statistics revealed by the European Statistical Office, Eurostat and compiled by the BGMEA.

In the mentioned period of the last calendar year (2021), Bangladeshi manufacturers exported apparel items worth $7.82 billion to the EU countries, said the Eurostat data.

Moreover, the EU’s global apparel imports grew to $56.33 billion in the January to July period of 2022, attaining a growth of 24.74% from $45.16 billion in the same period of the last year, Eurostat data showed.

However, country’s manufacturers said that Eurostat usually has a gap of three months in publishing data.

So, since July, the global situation has changed notably due to economic turmoil, inflationary pressures, war, and prolonged summer which led to a decline in orders and already caused a negative growth in September by 7.52%, which may continue in the coming months.

However, according to the Eurostat data, China, the top apparel exporter to the EU, registered a growth of 23.52% YoY to $14.93 billion in the mentioned period, higher than $12.09 billion in the same period of the last year.

Followed by Bangladesh, Turkey is the third largest apparel exporter to the EU and also posted a YoY growth of 17.32%.

In the January to July period of 2022, the EU imported apparel items worth $7.08 billion from Turkey, higher than $6.03 billion in the first seven months of the last year.

Being fourth, India registered a growth of 26.78% to $3.16 billion, from $2.5 billion in the same period of 2021, Eurostat data said.

Vietnam secured the fifth position by exporting apparel items worth $2.3 billion in the first seven months of 2022, fetching a YoY growth of 22.78% from $1.87 in the same period of the last year.

Among other notable global apparel manufacturers, Pakistan fetched a YoY growth of 28.05% to $2.14 billion, Cambodia of 41.5% to $1.96 billion, and Morocco of 16.67% to $1.88 billion in the January to July period of the current calendar year (2022), Eurostat data showed.