EU's apparel import from Bangladesh increased by 44.95% during Jan-May
EU's global apparel imports grew by 24.37% in January-May of this year
The European Union's (EU) apparel import from Bangladesh increased by 44.95% to $9.58 billion during the January-May period of this year, said the latest apparel import statistics by the European Statistical Office - Eurostat.
According to Eurostat, EU's global apparel imports grew by 24.37% during the period.
EU's clothing imports from China reached $10.19 billion in the same period with 20.67% year-over-year growth.
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Other countries having significant growths were Cambodia 32.68%, Pakistan 29.28%, Indonesia 25.36%, Vietnam 22.34%, and Morocco 20.05%.
"So far the import figure of the EU indicates a good position of Bangladesh's apparel in EU markets. But due to the recent geopolitical tension, retailers are struggling to adapt to an increasingly inflationary global market," said Bangladesh Garment Manufacturers and Exporters Association (BGMEA) Director Mohiuddin Rubel.
"The retail sales of many European brands have declined which increased their inventory stock. Considering all these factors, our export to EU market might be showing a declining trend in the coming months," he added.
