Bangladesh beats China in EU knitwear export value

Bangladesh has overtaken China to become the top readymade garment (RMG) exporter, in terms of price and volume, to European Union (EU) market for the first time.

Eurostat, the statistical office of the European Union, revealed the information recently.

Bangladesh Garment Exporters Association (BGMEA) confirmed the matter on Monday (December 18).

According to BGMEA, the EU's knitwear import from Bangladesh was $9 billion, while it was $8.96 billion from China. Considering the 9 months of the year, this is the first time that Bangladesh's knitwear exports to the EU have surpassed China. At the same time, Bangladesh is at the top in terms of volume.

BGMEA President Faruque Hassan said this through a statement on Monday.

He said, in 2022, the EU's clothing import from Bangladesh reached 1.33 billion kg, whereas import from China was 1.31 billion kg. However, in terms of value, the EU's clothing import from Bangladesh was $7.3 billion less than the import from China. But for the first time in the first 9 months of this year, Bangladesh has surpassed China in the export of knitwear. It is a matter of great pride and joy for Bangladesh.

The European Union countries are one of the top destinations for exports of ready-made garments. If the export of Bangladesh increases in this market, it has a positive effect on the growth of exports as a whole.