10:38 am, Friday, 7 February 2025

Bangladesh’s RMG exports to EU rise by 24pc in Nov

  • Bizbd Report
  • Update Time : 06:19:47 pm, Saturday, 18 January 2025
  • 169

Bangladesh’s readymade garment exports to the European Union demonstrated consistent growth over the past three months (September–November) of 2024, driven by rising demand in the Western market.

The country’s apparel exports to the EU in November 2024 increased by 24.09 per cent to 1.53 billion euros compared with those of 1.23 billion euros in the same month of 2023.

Bangladesh’s apparel exports to the EU in the 11 months (January-November) of 2024 increased by 2.53 per cent, outperforming the global average of 0.34 per cent.

The country’s apparel exports to the EU in January-November of 2024 increased to 16.72 billion euros compared to 16.31 billion in the same period of 2023.

The knitwear exports to the EU in the 11 months of 2024 increased by 0.89 per cent to 10.05 billion euros from 9.97 billion euros in the same period of 2023, while the woven sector saw a more substantial increase of 5.13 per cent, rising from 6.35 billion euros to 6.67 billion euros over the same period.

Exporters said that global demand for apparel has risen as inflation eased and interest rates declined in western countries.

They said that Bangladesh has been receiving increased orders for higher-value-added products.

Furthermore, exporters expressed optimism about the steady flow of orders, adding that an improvement in the law-and-order situation could attract even more global orders to Bangladesh.

Eurostat data showed that out of first 11 months of 2024, April and October emerged as standout months for Bangladesh’s apparel exports, recording impressive growth rates of 29.77 per cent and 33.83 per cent, respectively.

November 2024 showed strong performance, with a 24.09 per cent increase compared to the same month in 2023.

Bangladesh’s apparel exports to the EU in October recorded highest growth of 33.78 per cent year-on-year.

The country’s RMG export growth gained momentum in August with a 4.2 per cent increase, strengthened further in September with 7.4 per cent growth.

In contrast, January and February of 2024 experienced notable declines, with knitwear exports dropping sharply by 36.06 per cent and 21 per cent, respectively, highlighting a challenging start to the year.

A strong recovery was evident in the past three months, as exports from September to November in 2024 posted consistent growth, driven by heightened demand during the EU’s peak retail season.

Data showed that the overall apparel imports by the EU from different countries in the first 11 months of 2024 slightly increased by 0.34 per cent to 78.60 billion euros from 78.33 billion euros in the same period of the previous year.

Bangladesh remained the second-largest apparel exporter to the EU after China, supported by its cost competitiveness and increasing focus on sustainability, exporters said.

China retained its position as the EU’s largest apparel exporter in the first 11 months of 2024, with exports rising by 1.19 per cent to 22.11 billion euros from 21.85 billion euros in the same period of 2023.

China’s knitwear exports to the EU in the period grew by 3.67per cent while woven garments saw a slight 1.31 per cent decline.

The EU’s apparel imports from Turkey in the first 11 months of 2024 declined by 6.99 per cent to 8.60 billion euros from 9.24 billion euros in the same period of 2023.

The EU’s apparel imports from India increased by 0.70 per cent to 3.91billion euros in January-November of 2024 compared with those of 3.88 billion euros in the same period of the past year.

Vietnam’s apparel exports to the EU in 11 months of 2024 grew by 2.87 per cent to 3.63 billion euros from 3.53 billion euros in the same period of 2023.

Cambodia and Pakistan emerged as strong performers in exporting readymade garments to the EU during the January–November period of 2024, driven by significant growth in both the knitwear and woven segments.

The EU’s apparel imports from Cambodia in 11 months of 2024 increased by 19.94 per cent to 3.58 billion euros compared with those of 2.99 billion euros in the same period of the past year.

Pakistan’s apparel exports to the EU increased by 11.16 per cent to 3.20 billion euros in January-November of 2024 compared with those of 2.88 billion euros in the same period of 2023.

Bangladesh’s RMG exports to EU rise by 24pc in Nov

Update Time : 06:19:47 pm, Saturday, 18 January 2025

Bangladesh’s readymade garment exports to the European Union demonstrated consistent growth over the past three months (September–November) of 2024, driven by rising demand in the Western market.

The country’s apparel exports to the EU in November 2024 increased by 24.09 per cent to 1.53 billion euros compared with those of 1.23 billion euros in the same month of 2023.

Bangladesh’s apparel exports to the EU in the 11 months (January-November) of 2024 increased by 2.53 per cent, outperforming the global average of 0.34 per cent.

The country’s apparel exports to the EU in January-November of 2024 increased to 16.72 billion euros compared to 16.31 billion in the same period of 2023.

The knitwear exports to the EU in the 11 months of 2024 increased by 0.89 per cent to 10.05 billion euros from 9.97 billion euros in the same period of 2023, while the woven sector saw a more substantial increase of 5.13 per cent, rising from 6.35 billion euros to 6.67 billion euros over the same period.

Exporters said that global demand for apparel has risen as inflation eased and interest rates declined in western countries.

They said that Bangladesh has been receiving increased orders for higher-value-added products.

Furthermore, exporters expressed optimism about the steady flow of orders, adding that an improvement in the law-and-order situation could attract even more global orders to Bangladesh.

Eurostat data showed that out of first 11 months of 2024, April and October emerged as standout months for Bangladesh’s apparel exports, recording impressive growth rates of 29.77 per cent and 33.83 per cent, respectively.

November 2024 showed strong performance, with a 24.09 per cent increase compared to the same month in 2023.

Bangladesh’s apparel exports to the EU in October recorded highest growth of 33.78 per cent year-on-year.

The country’s RMG export growth gained momentum in August with a 4.2 per cent increase, strengthened further in September with 7.4 per cent growth.

In contrast, January and February of 2024 experienced notable declines, with knitwear exports dropping sharply by 36.06 per cent and 21 per cent, respectively, highlighting a challenging start to the year.

A strong recovery was evident in the past three months, as exports from September to November in 2024 posted consistent growth, driven by heightened demand during the EU’s peak retail season.

Data showed that the overall apparel imports by the EU from different countries in the first 11 months of 2024 slightly increased by 0.34 per cent to 78.60 billion euros from 78.33 billion euros in the same period of the previous year.

Bangladesh remained the second-largest apparel exporter to the EU after China, supported by its cost competitiveness and increasing focus on sustainability, exporters said.

China retained its position as the EU’s largest apparel exporter in the first 11 months of 2024, with exports rising by 1.19 per cent to 22.11 billion euros from 21.85 billion euros in the same period of 2023.

China’s knitwear exports to the EU in the period grew by 3.67per cent while woven garments saw a slight 1.31 per cent decline.

The EU’s apparel imports from Turkey in the first 11 months of 2024 declined by 6.99 per cent to 8.60 billion euros from 9.24 billion euros in the same period of 2023.

The EU’s apparel imports from India increased by 0.70 per cent to 3.91billion euros in January-November of 2024 compared with those of 3.88 billion euros in the same period of the past year.

Vietnam’s apparel exports to the EU in 11 months of 2024 grew by 2.87 per cent to 3.63 billion euros from 3.53 billion euros in the same period of 2023.

Cambodia and Pakistan emerged as strong performers in exporting readymade garments to the EU during the January–November period of 2024, driven by significant growth in both the knitwear and woven segments.

The EU’s apparel imports from Cambodia in 11 months of 2024 increased by 19.94 per cent to 3.58 billion euros compared with those of 2.99 billion euros in the same period of the past year.

Pakistan’s apparel exports to the EU increased by 11.16 per cent to 3.20 billion euros in January-November of 2024 compared with those of 2.88 billion euros in the same period of 2023.