Apparel exports from Bangladesh to Europe tank 59.95% in Jan-Apr 2024

Europe’s share in Bangladesh's apparel exports dropped significantly. In January-April 2023, Europe accounted for 57.92 per cent of Bangladesh’s $13.425 billion in apparel exports. This share fell to 44.71 per cent this year, with Bangladesh exporting $6.965 billion worth of apparel globally, according to Fibre2Fashion's market insight tool TexPro.

Shipments to Europe had reached $8.199 billion in the corresponding period of 2022, overcoming disruptions due to the COVID-19 pandemic. However, they eased by 5.17 per cent to $7.775 billion in the first four months of last year.

Exports from Bangladesh to Europe had reduced by 17.1 per cent to $20.628 billion in 2023 from $24.884 billion in 2022. Europe’s share was 56.81 per cent of the total apparel exports of $36.312 billion from Bangladesh in 2023, according to TexPro.

Shipments to Europe were valued at $21.234 billion in 2018. They gained 2.59 per cent to $21.783 billion in the following year, 2019. However, trade tanked by 24.97 per cent to $16.344 billion in 2020. It then rose by 20.2 per cent to $19.646 billion in 2021 and further gained 26.66 per cent to $24.883 billion in 2022.

ALCHEMPro News Desk (KUL)