The export of the readymade garment (RMG) items to the European Union (EU) countries saw a growth of 41.76% to $19.40 billion in the first ten months (January-October) of 2022, higher from $13.69 billion of the mentioned period of 2021.
The European Statistical Office (Eurostat) revealed the latest import statistics compiled by the Bangladesh Garment Manufacturers and Exporters Association (BGMEA).
In the period mentioned above, the EU countries imported apparel items worth $86.74 billion from its global sources, attaining a year-on-year (YoY) growth of 24.41% from $69.72 billion in the same period of 2021, Eurostat data stated.
According to the Eurostat data, China is the top apparel exporter to the EU, shipping apparel items worth $25.49 billion, fetching a YoY growth of 22.43% to $25.49 billion in the mentioned period, higher than $20.82 billion in the same period of 2021.
Followed by Bangladesh, Turkey is the third largest apparel exporter to the EU and also posted a YoY growth of 12.82% and earned $10.12 billion during the January to September period of 2022, higher than $8.97 billion from the January-October period of 2021.
Being fourth in January-October of 2022, India posted a growth of 23.46% to $4.24 billion from $3.43 billion in the same period of 2021, Eurostat data revealed.
Vietnam secured the fifth position by exporting apparel items worth $3.74 billion in the first ten months of 2022, fetching a YoY growth of 33.05% from $2.81 billion in the same period of 2021.
Among other notable global apparel manufacturers, Pakistan fetched a YoY growth of 28.55% to $3.24 billion, Cambodia 39.69% to $3.16 billion and Morocco 9.59% to $2.67 billion during the January to October period of 2022, Eurostat data showed.
However, among the top ten apparel suppliers to the EU, Bangladesh attained the highest growth rate.