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Bangladesh’s apparel exports to the European Union in January-October of 2022 increased by 60.75 per cent to 18.47 billion euro compared with that of 11.49 billion euro in the same period of 2021 due to an increase of unit prices and shipments to the economic bloc.
According to the data released on December 16 by Eurostat, the statistical office of the European Union, knitwear import by the EU from Bangladesh in 10 months of 1022 increased by 61.77 per cent to 11.74 billion euro compared with that of 7.26 billion euro in the same period of 2021.
Woven garment exports to the EU in the period stood at 6.73 billion euro, 59.01 per cent higher than the earnings of 4.23 billion in the first 10 months of 2021.
The data showed that Bangladesh’s position remained as the second-largest apparel exporter in the EU market while China and Turkey occupied the first and the second highest positions respectively.
Exporters said that export earnings showed a robust growth in the EU in the first 10 months of 2022 as the price of products increased on the global market due to a price hike of raw materials.
They said that the export growth might decrease in the coming months as buyers started negotiations with suppliers for cutting unit prices due to a fall in price of raw materials on the global market in recent months.
The Eurostat data showed that the total extra-EU imports in January to October 2022 rose by 47.70 per cent to 2,511.1 billion euro compared with that of 1,700.10 billion euro in the same period of 2021.
The total volume of extra-EU apparel imports in January to October 2022 is yet to be available in the EU official data.
The Eurostat data showed that RMG import from China by the EU in January-October of 2022 grew by 39.25 per cent to 24.40 billion euro compared with that of 17.52 billion euro in the same period of 2021.
Turkey’s apparel exports to the EU in the first 10 months of 2022 increased by 27.67 per cent to 9.62 billion euro compared with that of 7.53 billion euro in the same period of 2021.
The EU imports of apparel from India in January-October of 2022 increased by 39.39 per cent to 4 billion euro compared with that of 2.87 billion euro in the same period of 2021.
The import of RMG by the EU from Vietnam in the first 10 months of 2022 grew by 51 per cent to 3.58 billion euro compared with that of 2.37 billion euro in the same period of 2021.
The EU imports of apparel from Pakistan in January-October of 2022 increased by 45.84 per cent to 3.08 billion euro compared with that of 2.11 billion euro in the same period of 2021.
(NA)
