24 percent growth in garment exports to Europe

Bangladesh’s ready-made garment exports to the European Union (EU) market have gained new momentum. In the first 4 months of this year, garment exports to the EU have grown by 23.98 percent.

The Bangladesh Garment Manufacturers and Exporters Association (BGMEA) said this in a release on Monday (June 23) citing updated data from Eurostat.

The release said that from January to April this year, European Union countries imported garments worth $3,248.9 million from the world market. During this period, garment imports increased by 14.21 percent compared to last year.

From January to April, Bangladesh exported garments worth $8.0695 million to the EU, which is 23.98 percent more than the same period last year. In the same period last year, garment exports were $6.584 billion.

Cambodia topped the list of top 10 countries in terms of growth in garment exports to the EU in the first four months of this year. The country’s growth was 31.77 percent. Bangladesh is in second place on the list, and Pakistan is in third place with a growth of 23.42 percent.

In addition, China and India are in fourth and fifth place on the list with a growth of 21.49 percent and 20.58 percent, respectively. The two countries exported garments to the EU worth $8.3876 billion and $20095 billion, respectively, in the first four months of this year.