19 December 2023, Mumbai
Knitwear Domination: Bangladesh Claims Top Spot in EU Market
- Bangladesh surpasses China in EU clothing imports (by volume) for the first time in 2022.
- EU imported 1.33 billion KG from Bangladesh vs. 1.31 billion KG from China.
- In value terms, China still leads with US$ 7.3 billion more than Bangladesh.
Knitwear Triumph: Bangladesh Takes No. 1 in Both Value and Weight (Jan-Sept 2023)
- EU imported US$ 9 billion worth of knitwear from Bangladesh vs. US$ 8.96 billion from China.
- By weight, Bangladesh exported 571 million KG vs. 442 million KG from China.
- This marks a significant milestone for Bangladesh's knitwear in the EU. Key Success Factors:
- EU's EBA scheme boosts growth and investment
- Bangladesh leads in other categories:
- EU Denim: #1 since 2014 (ahead of Turkey and Pakistan)
- US Denim: #1 since 2020 (ahead of Mexico and Pakistan)
- US Cotton Apparel: #1 till June 2023, closely behind Vietnam now (14.55% share in 2022) Future Ambitions:
- Reclaim top spot in US cotton apparel by 2024
- Shift towards higher-value, non-cotton athleisure in EU
