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According to import figures that are based on weight (measured in kilograms), Bangladesh surpassed all other countries as the EU's top supplier from January through March of 2023. In terms of quantity, Bangladesh also held the top spot on the EU's list of garment suppliers in 2022.
On the other hand, during January through March of 2023, Bangladesh's export of garments to the European Union increased in value by 3.9%. Exports increased during this time to $5.6 billion from $5.4 billion in January–March 2022.
Additionally, from January to March 2023, Bangladesh continued to be the EU's second-largest supplier of apparel imports, trailing only China (China's share was 24.55%), with a 24.07% share of all RMG imports (measured in dollars). According to a recent report from Eurostat, imports from Bangladesh decreased in volume by 3.67%, or 11.84 million KGs.
The increase in unit price (due to rising costs for raw materials, transportation, and other aspects of production) that occurred in January[1]March of 2023 was the primary factor in the quantity reduction.
According to a figure from Eurostat, global garment imports in the cited period fell by 1.22 billion dollars, or 4.94%, from the similar period in 2022. The amount of apparel imported into the EU fell sharply by 12.64%, or 136.88 million KGs, compared to the period from January to March 2022.
The value of EU imports from China, the second-largest source of garment imports, fell by 17.80% to $5.7 billion over the aforementioned period from $6.99 dollars. Quantitatively, there has been a reduction of 22.46%, or 65 million KGs.
Bangladesh, India, and Vietnam are among the top ten countries from which apparel is sourced; in contrast, the EU's imports of clothing from Turkey, Pakistan, Sri Lanka, and Morocco have decreased. The data shows that between January and March 2023, EU imports from Turkey, the EU's third-largest source of garment imports, decreased dramatically by 12.79%.
However, in value terms, EU imports from Vietnam and India have grown by 3.73% and 5.75 percent, respectively. Although volume-wise, imports into the EU from all of the major nations have experienced negative growth.
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