According to Eurostat, Bangladesh’s apparel export to the European Union (EU) rose by 44.95% to $9.58 billion during the period between January to May this year.
Bangladesh Garment Manufacturers and Exporters Association (BGMEA) Director Mohiuddin Rubel said, ‘So far, the import figure of the EU indicates a good position of Bangladesh’s apparel in EU markets. But due to the recent geopolitical tension, retailers are struggling to adapt to an increasingly inflationary global market.’
‘The retail sales of many European brands have declined which increased their inventory stock. Considering all these factors, our export to EU market might be showing a declining trend in the coming months,’ he added.
During the same period, EU’s clothing imports from China reached $10.19 billion in the same period with a 20.67% year-over-year growth. Other countries having significant growth were Cambodia 32.68%, Pakistan 29.28%, Indonesia 25.36%, Vietnam 22.34%, and Morocco 20.05%.
