Bangladesh is poised to overtake China in garment exports to Europe, the world’s largest market, anytime in the near future for work orders shifting its way and its price competitiveness.
In the January-June period of this year, Bangladesh attained shipments worth $11.31 billion, registering the highest year-on-year growth of 44.60%, according to Eurostat.
China secured a 21.78 per cent rise, reaching $12.22 billion, showed the data of the European Union’s statistical office.
Currently, China is the world’s largest apparel exporter, with a 38% market share. Bangladesh is the second, with a 6.8 per cent market share. Local exporters expect it to reach 7 per cent at the end of this year.
Coming in third place is Turkey. It posted a 20.38 per cent year-over-year export growth to the European Union (EU) to reach $10.89 billion.
by Daily News Sri Lanka
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