But, in spite of increasing geographical diversification of the RMG sector market, itsexport is still heavily concentrated on two markets: the European UnionEU (28), and the United States of America (USA). Trade Entropy index calculation indicates that the geographical diversification of Bangladesh’s RMG export has increased considering the value of the index, it has increased more than two times during this time period. During this period, Vietnam and India’s market share increased by 2.24, and 0.72 percentage points respectively, making them the 3 rd and 6 th largest RMG exporter in the world. The findings of the paper based on market share analysis illustrate that Bangladesh’s RMG export share in the global market reached 7.50 percentin 2016, a shot up by 2.73 percentage points, indicating an increase in export competitiveness, whereas China’s share declined to 33.75 percentin 2016, with an exception to 2013. While Trade Entropy index has also been calculated to make an attempt to understand the geographical dispersion of export market scenario using two-digit classifications of HS data for the time period between 20. The paper evaluates the competitiveness of Bangladesh Readymade Garments (RMG) sector in the global RMG market through Market share analysis using two-digit classifications of Harmonized System (HS)data for the period covering 2012 to 2016 to understand the actual condition of sector’s export comparison with its competitors. In terms of percentage, the export earnings in January 2023 increased by 5.89 percent compared to January 2022.Bangladesh Knitwear Exporters and Manufacturers AssociationĮxport Market, Export Competitiveness, Trade Entropy Index, Bangladesh, RMG Sector Abstract Import from India reached USD 4.53 billion registering 21.52 percent growth year-on-year.ĮU’s imports from other top suppliers like Cambodia, Vietnam, Pakistan, Morocco, Sri Lanka and Indonesia increased by 35.89 percent, 34.16 percent, 27.99 percent, 8.13 percent, 17.32 percent and 27.80 percent respectively.Īccording to the updated report of the Export Development Bureau ( EPB), Bangladesh’s exports of manufactured goods in the world market in January this year amounted USD 513 crore 62 lakh 40 thousand. EU’s imports from Turkey also stood at USD 11.09 billion. At the same time, imports from Turkey also grew by 11.56 percent year-on-year. The data further showed that during the first 11 months of 2022, EU’s imports from China reached USD 27.98 billion with 19.29 percent year-on-year growth. Besides, the increase in demand for our clothes among European buyers is attributed to the quality of Bangladeshi clothes,” he added.

And this has been possible due to increase in green factories in Bangladesh. “According to Eurostat data, buyers from Europe are still leaning towards Bangladesh.

In other words, there has been a record growth in Bangladesh’s garment exports in the European market.” But Bangladesh is the first in the world in terms of growth. Mohiuddin Rubel told Bangladesh Post, “China continues to hold the title of the largest apparel supplier to the EU with a 29.40 percent share. EU’s apparel import from Bangladesh increased by 38.39 percent compared to the corresponding period of 2021.īangladesh Garment Manufacturers and Exporters Association (BGMEA) Director Md. In Jan-Nov 2022, EU imported USD 21.18 billion worth of apparel from Bangladesh, as it holds the position of the second largest apparel import source for the EU.

B angladesh readymade garments ( RMG ) export has hit a record growth in the European market recently.Īccording to the latest data published by the European statistics organization EUROSTAT, between January and November 2022, the European Union bought 38.39 percent more garments from Bangladesh than that in 2021.ĮUROSTAT data show that cumulatively in January to November 2022 period, EU imported USD 95.17 billion worth of apparel from the world, noting 22.39 percent year-on-year growth.

Rmg export