Bangladesh’s readymade garment (RMG) exports to the European Union (EU) grew by 4.86% in 2024, reaching US$19.77 billion, up from $18.85 billion in 2023, according to Eurostat data.
This steady growth was driven by value-added production, duty-free market access, improved workplace safety, and collaboration between manufacturers and workers, strengthening buyers’ confidence. Despite a slow start, exports surged in the final quarter of 2024, though earnings remained below 2022 levels.
Former BGMEA director Mohiuddin Rubel said looking ahead, the outlook remains optimistic as work orders are expected to increase, sustaining the growth momentum into 2025.
“With buyers regaining confidence and expanding their sourcing activities in the country, the growth trend is poised to continue,” he said.
Comparatively, China’s RMG exports to the EU grew 2.61% to $26.07 billion, while Pakistan and Cambodia saw 12.41% and 20.73% growth, securing $3.79 billion and $4.22 billion, respectively.
In contrast, Turkey’s exports fell 6.64% to $10.07 billion, while Vietnam and India saw 4.21% and 1.97% growth, reaching $4.30 billion and $4.52 billion, respectively.
Bd-Pratidin English/ AM
