Bangladesh’s apparel export to the European Union (EU) rose by 44.6% to $11.31 billion during the first six months or first half of H1 (January-June) of 2022, from $7.82 billion in the same period of the last year, according to the latest import statistics revealed by European Statistical Office, Eurostat.
Moreover, in the mentioned period, the EU’s global apparel imports grew to $47.75 billion, fetching a growth of 25.03% from $38.19 billion in the same period of the last year.
According to the Eurostat data, China, the top apparel exporter to the EU, registered a growth of 21.78% to $12.22 billion in the mentioned period, higher than $12.22 billion in the same period of the last year.
Turkey, being the 3rd largest apparel source in the EU also posted a y-o-y growth of 20.38% to $6.14 billion, higher than $5.07 billion in the H1 of the last year.
Being fourth, India registered a growth of 24.9% to $2.75 billion, higher than $2.2 billion in the same period of 2021.
Vietnam exported apparel items worth $1.94 billion in the first six months of 2022, fetching a y-o-y growth of 23.49% from $1.57 of the same period of the last year.
Speaking to the media, Mohiuddin Rubel, director of the Bangladesh Garment Manufacturers and Exporters Association (BGMEA), the upward trend might not sustain in the following months of 2022 due to inflation and the downturn in economic growth.
He also said that the unusually long summer might also affect the winter clothing range.
However, manufacturers fear that the apparel export is likely to witness a negative growth from September earnings.
Moreover, since June, the global situation has changed notably due to economic turmoil and inflationary pressures which led to a decline in orders which may cause negative growth in the coming months.