Bangladesh experienced a significant decline in apparel exports to both the European Union (EU) and the United States (US) markets during the first two months of 2024. In the EU market, apparel exports from Bangladesh plummeted by 26.74% to 2.48 billion euros in January-February 2024, down from 3.39 billion euros during the same period in 2023, according to data released by Eurostat.
Knitwear exports from Bangladesh to the EU also saw a decrease, falling to 1.42 billion euros compared to 2 billion euros in the corresponding period of 2023. Similarly, woven garment exports from Bangladesh to the EU dropped to 1.06 billion euros from 1.38 billion euros in the same period last year.
In the US market, Bangladesh faced a similar decline in apparel exports during January-February 2024. According to data from the US Department of Commerce’s Office of Textiles and Apparel (OTEXA), Bangladesh’s apparel exports to the US fell by 19.24%. This decline contrasted with the growth seen in China’s and Vietnam’s apparel exports to the US during the same period.
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