Bangladesh has surpassed China as the leading exporter of knitwear to the European Union (EU), marking a significant milestone in the country’s textile industry. According to data from the Bangladesh Garment Manufacturers and Exporters Association (BGMEA), the country exported knitwear worth $12.77 billion to the EU in 2023, up from $11.9 billion in 2022. This represents a 7.2% increase year-on-year. Meanwhile, China’s knitwear exports to the EU fell by 3.8% to $12.54 billion in the same period..
The rise of Bangladesh as a knitwear exporter to the EU is attributed to several factors, including its competitive pricing, strong production capacity, and favorable trade agreements. The country has also benefited from the ongoing trade tensions between China and the US, which have led some buyers to shift their sourcing from China to Bangladesh..
The BGMEA hailed the achievement as a testament to the hard work and dedication of the country’s knitwear industry. .
