19 December 2022, Mumbai
So far the import figure of the EU indicates a good position of Bangladesh’s apparel in EU markets.
Bangladesh remains the second largest source of clothing for Europe with a 22.56% share while China tops the position with a 29.04% share. EU imported USD 22.59 billion worth of clothing from China during the first nine months of 2022 while the year-on-year growth was 25.19%.
EU’s imports from Bangladesh increased by 43.21% and reached USD 17.56 billion during the mentioned period compared to the same period in 2021, whereas EU’s imports from the world grew by 27.87%.
Being the 3rd largest apparel import source, the EU’s import from Turkey reached USD 9.19 billion with 14.86% year-over-year growth. On the other hand, the EU’s imports from India increased by 25.85%.
Among the top ten apparel suppliers to the EU, Bangladesh attained the highest growth. Other countries having significant growth were Cambodia 41.08%, Indonesia 33.46%, and Pakistan 30.76%.
The brand sees huge potential for growth in the coming years and is eyeing a million customers over the next two years with a target revenue of Rs 100 crores.
Credits: The European statistics organization ‘EUROSTAT’ report.
