Bangladesh is at the top in the export of knitwear. Bangladesh has overtaken China as the top exporter of knitwear in the European Union (EU) market. BGMEA reported this information on Monday (December 18).
In 9 months of this year (January to September), exporters of Bangladesh have exported net garments worth 9 billion US dollars. And China exported 8.96 billion US dollars.
However, it has been seen that Bangladesh has overtaken China to occupy the top position in the EU in terms of net exports, but China still holds the top position in overall garment exports.
In the first nine months of this year, China’s total ready-made garment exports to the EU were over $18.55 billion in terms of garment value; On the other hand, Bangladesh’s total export of ready-made garments was 14.82 billion dollars. China exported nearly $4 billion more garments than Bangladesh.
In a letter written to the members of BGMEA to achieve the top position of Bangladesh, Farooq Hasan, the president of the organization, said, “We have almost reached the end of the eventful year 2023. Despite facing various challenges at the local and international levels, the ready-made garment industry has been showing potential.
Farooq Hasan said, “One of the reasons for Bangladesh’s good export of knitwear to the EU is the recent investment by investors in the production of high-value garments.”
Bangladesh has also surpassed China in terms of the amount of manufactured garments. Bangladesh has exported 571 million kg net in the first 9 months of this year. On the other hand, 442 million kg was exported from China during this period.
It is known that Bangladesh surpassed China in terms of quantity of knitwear last year as well. In 2022, total apparel exports to the EU in terms of volume were 1.33 billion kg.
On the other hand, China exported 1.31 billion kg of garments. Despite exporting more clothes in terms of quantity, Bangladesh has managed to earn 7.3 billion dollars less than China in terms of value.
