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Political crisis impacts Bangladesh's apparel exports to EU

25 Oct '24
2 min read
Political crisis impacts Bangladesh's apparel exports to EU
Political crisis impacts Bangladesh's apparel exports to EU

Insights

  • Bangladesh's apparel exports to the EU reached $****.*** billion in Jan-Jul 2024, down from $****.*** billion in 2023, amid growing political unrest and student protests.
  • Exports fluctuated, with a sharp decline in June before recovering in July, just before Prime Minister Sheikh Hasina's ousting.
  • Europe, including UK, contributed **.* per cent to Bangladesh's total apparel exports in this period.

Bangladesh’s apparel exports to the EU experienced significant volatility during the first seven months of ****. Exports increased until March **** but eased to $*,***.*** million in April, further declining to $*,***.*** million in May. The country’s exports dropped to $*,***.*** million in June **** but recovered to $*,***.*** million in July ****, according to Fibre2Fashion&#**;s market insight tool TexPro.

It is likely that exporters had anticipated potential political unrest in the coming weeks, leading them to increase shipments in July ****. Prior to the political instability, Bangladesh had established itself as one of the world’s top garment exporters.

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