Bangladesh’s apparel exports to the European Union (EU) rose by 2.99% year-on-year to $18.15 billion during the January-November period of 2024, according to Eurostat data.
In volume terms, shipments surged by 8.22%, reflecting growing demand. However, the average unit price of garments declined by 4.83% year-on-year, highlighting the sector's struggle to maintain profitability in the face of falling prices.
The EU’s overall apparel imports grew marginally by 0.86% in value to $85.36 billion during the same period, accompanied by a significant 8.04% increase in volume. Bangladesh outpaced this growth, reinforcing its competitive standing in the European market.
Eurostat figures also indicated a sharp 6.65% drop in the average unit price of garments imported by the EU, putting pressure on major sourcing countries, including Bangladesh.
While Bangladesh retained its position as a key player, regional competitors demonstrated varied performances.
Cambodia led with an impressive 20.66% export growth, although its total shipments were comparatively lower at $3.88 billion.
China, the largest exporter to the EU, saw a modest 1.85% growth to $24.04 billion.
India’s exports increased by 1.05% to $4.23 billion, while Pakistan and Vietnam reported stronger growth of 11.69% and 3.46%, reaching $3.47 billion and $3.94 billion, respectively.
Conversely, Turkey and Indonesia experienced declines in export values, underscoring the challenges posed by price pressures and fierce competition in the global apparel industry.
Bangladesh’s ability to grow exports amid these challenges underscores its resilience but highlights the need to address profitability concerns in a price-sensitive market.
