Bangladesh poised to overtake China in apparel export to EU

Star Business Report
Sat Oct 1, 2022 09:17 PM Last update on: Sat Oct 1, 2022 09:25 PM

One of our weaknesses as an RMG exporter has historically been our reliance on low-value staple items. Yet, this weakness could turn into a strength if the threat of an all-out global recession materialises and households are forced to slash their expenses. FILE PHOTO: STAR

Bangladesh is poised to overtake China in garment exports to Europe, the world’s largest market, anytime in the near future for work orders shifting its way and its price competitiveness.

In the January-June period of this year, Bangladesh attained shipments worth $11.31 billion, registering the highest year-on-year growth of 44.6 per cent, according to Eurostat.

China secured a 21.78 per cent rise, reaching $12.22 billion, added the data of the European Union’s statistical office.

Currently, China is the world’s largest apparel maker, with a 38 per cent market share.

Bangladesh is the second, with a 6.8 per cent market share. Local exporters expect it to reach 7 per cent at the end of this year.

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