Bangladesh’s Apparel Exports To EU Witness Mixed Trends In 2024
Bangladesh’s apparel exports to the EU rose 6.9% year-on-year in September 2024 to €1.53 billion, driven by strong knitwear demand. However, exports for January-September 2024 fell 2.47% to €13.43 billion due to sharp declines in the first quarter, according to Eurostat data.
Knitwear exports dropped 5.04% to €7.93 billion, while woven garment exports rose 1.5% to €5.49 billion during the nine-month period. The EU’s overall apparel imports also declined 2.28% to €62.86 billion, with negative growth across most supplier countries, except Pakistan, which recorded an 8.21% rise.
High utility costs, gas shortages, wage hikes and labour unrest have impacted Bangladesh’s competitiveness, said Fazlul Hoque, former president of BKMEA. Despite a recovery in mid-2024, challenges like price sensitivity and industrial instability persist.
Among competitors, EU imports from China, Turkey, India and Vietnam also declined, while Pakistan gained market share. Bangladesh’s ability to recover hinges on addressing production costs, enhancing infrastructure and ensuring stability in its industrial zones.
