Bangladesh Topples China From Top Spot In EU Knitwear Imports
For the first time in knitwear clothing imports, EU’s import from Bangladesh has exceeded the share of any other country during the first nine months of 2023, both in value and volume.
Between January and September, EU’s knitwear import from Bangladesh amounted to US $9 billion as against $8.96 billion from China in value.
While, in terms of volume, EU’s knitwear import from Bangladesh was 571 million kgs compared to 442 million kgs from China in the period under review.
Bangladesh also tops in the EU and US in a few other garment categories. The country is the top source for denim garments sourced by the EU since 2014, followed by Turkey and Pakistan.
The South Asian country is also ranked first in denim clothing imports by the US since 2020 and toppled Mexico from the top spot, with Pakistan following in third place.
In 2022, the gap in sourcing denim garments by US garment brands and retailers widened further with imports from Bangladesh totaling $944 million, while those from Mexico stood at $750 million.
One of the reasons for Bangladesh doing exceedingly well in EU for knitwear is due to the shift to manufacturing higher value-added items, especially active-wear.
