From January to October this year, Bangladesh's garment exports to European Union (EU) countries have decreased by 2.06 percent. This information was informed in a press release sent by BGMEA on Sunday (November 24).
According to Eurostat data, Bangladesh earned $14.60 billion from EU countries in October 2024, which was $14.90 billion in the same period last year.
Not only Bangladesh, but the top exporting countries also recorded negative growth. On the other hand, the total apparel imports of European countries decreased by 2.02 percent. In the first 10 months of 2024, imports of manufactured garments in the European Union were $68.39 billion, compared to $69.80 billion in the same period last year.
On the other hand, close competitor Bangladesh in the EU market has performed well and growth is positive.
Vietnam's export income from the European Union increased by 0.21 percent to 3.08 billion dollars. And Cambodia's income increased by 15.96 percent to 2.97 billion dollars. Pakistan's export earnings from apparel products increased by 8.69 percent to 2.75 billion. But India has decreased by 69 percent.
China, the number one exporter of apparel products, saw a negative growth of 1.64 percent. China earned $18.87 billion, up from $19.18 billion in the same period last year.
Türkiye, the third largest apparel exporter in the European Union market, recorded negative growth of 6.76 percent and earned $7.7 billion.
