Bangladesh Beats China in Readymade Garment Export, Touches $9 Billion

Strategic considerations support Bangladesh's rise to the top of the knitwear export rankings to the European Union (EU), where it will overcome China from January to September of 2023. The Everything But Arms (EBA) program, which offers duty advantages to boost the competitiveness of Bangladeshi exports, is a major motivator. Due to this favorable status, Bangladesh's knitwear exports to the EU now total $9 billion, surpassing China's $8.9 billion.


Bangladesh's development has also been propelled by strategic investments in high-value goods, especially sportswear. Increasing the variety of products offered and emphasizing quality boost the nation's attractiveness in the international market. Compared to China's 442 million kilos, the EU purchased a significant 571 million kilograms of knitwear from Bangladesh.


Bangladesh’s robust performance extends beyond knitwear, as it leads in denim sourcing for both the EU and the US. Additionally, the nation holds a prominent position in supplying cotton apparel to the US market. This multifaceted success underscores Bangladesh’s growing influence in the global textile industry, driven by a combination of trade-friendly initiatives and strategic business decisions.


Meanwhile, ready-made clothing exports from Bangladesh were USD 22.88 last year. Compared to 2021, this export figure is 35.69% greater. Turkey was the third-largest exporter of ready-made clothing to the EU last year, behind Bangladesh and China, with exports valued at USD 11.98.  


In addition, ready-made clothing worth USD 8.48 has been exported from India; Vietnam, USD 4.57; Pakistan, USD 3.94; Cambodia, USD 3.81; Morocco, USD 3.12; Sri Lanka, USD 1.62; and Indonesia, USD 1.36.


Bangladesh is the second-cheapest exporter of ready-made clothing to the EU market. The cost per kilogram of ready-made clothing that Bangladesh shipped last year was USD 17.27, up from USD 15.41 in 2021.


That indicates that last year, Bangladesh's exports of ready-made clothing had an almost 12% increase in price. Pakistan exported ready-made clothing last year for less money than Bangladesh did. They export ready-made clothing for an average price of roughly USD 14.5 per kilogram.


However, last year, the EU bought clothing at an average cost of USD 22.48 per kilogram from various nations. Vietnam had the highest rate of USD 30.75 per kg of clothing exported. In this instance, Morocco and Indonesia rank second and third, respectively, with garment exports valued at USD 29.69 and USD 29.88 per kilogram.


Aside from that, the average value of ready-made clothing exported from Sri Lanka was USD 28.54, Turkey was USD 25.39, India was USD 23.27, China was USD 23.03, and Cambodia was USD 22.18 per kilogram.



Category and Tags
More stories by
Bangladesh, China to elevate ties to new height

BEIJING, March 28: China and Bangladesh have decided to elevate their relations to a new height after a historic bilateral meeting between President Xi Jinping and Chief Adviser Professor Muhammad Yunus.The meeting held at the Chinese capital's Great

How to Earn Money with Cryptocurrency ?

Cryptocurrency has emerged as a lucrative way to make money, attracting both investors and traders worldwide. Wh...

London Buses to Carry ‘Praise Allah’ Adverts During Ramadan

Islamic Relief, the UK's largest Muslim charity, launched an advertising campaign featuring the phrase "Subhan Allah" ("Glory be to God") on hundreds of buses across cities like London, Birmingham, Manchester, Leicester, and Bradford. This initiative

Top 10 Cryptos You Should Buy in 2025

As we progress through 2025, the cryptocurrency market continues to evolve, presenting both seasoned investors and newcomers with a plethora of opportunities. Identifying cryptocurrencies with strong fundamentals, innovative technologies, and substan

How Much Water Should You Drink Every Day in Ramadan?

Photo: ShutterstockRamadan is a sacred month observed by Muslims worldwide, marked by fasting from dawn to sunset. During this time, no food or drink is consumed throughout daylight hours, making hydration a key conc...

Follow Business Habit on Facebook, Twitter