ISLAMABAD: Bangladesh has surpassed China to become the primary knitwear exporter in the European Union, marking a significant milestone attributed to the Everything But Arms (EBA) scheme.
Eurostat data from January to September 2023 confirms that the EU’s import from Bangladesh, both in value and volume, exceeded that of any other nation.
In this period, Bangladesh exported knitwear worth $9 billion to the EU, outperforming China’s $8.9 billion, while in terms of weight, it exported 571 million kilograms compared to China’s 442 million kilograms.
Faruque Hassan, president of the Bangladesh Garment Manufacturers and Exporters Association (BGMEA), credited this success to recent investments in high-value activewear, anticipating a notable shift toward non-cotton athleisure items. Mettis Global, a Karachi-based Fin-Tech entity reported this breaking news on Tuesday.
Hassan highlighted that Bangladesh had already surpassed China in clothing sourcing volume in 2022, despite lagging slightly behind in value.
He emphasized the country’s strengthening position in EU markets, citing the EU’s EBA scheme as pivotal in driving growth and investment in the local garment sector.
Bangladesh has also achieved leadership positions in denim sourcing, overtaking countries like Turkey and Pakistan in the EU and becoming the largest denim exporter to the US, surpassing Mexico in 2020.
Additionally, Bangladesh has emerged as the top cotton apparel supplier to the US, although its position temporarily shifted due to Vietnam’s export resurgence.
While promoting non-cotton apparel, Hassan stressed the importance of maintaining and expanding Bangladesh’s share in cotton apparel categories like denim and women’s dresses.
He expressed confidence in Bangladesh reclaiming the top spot in cotton apparel in the US by the end of 2024.
