The EU's apparel imports from Bangladesh increased significantly by 35.69% in 2022, reaching $22.89 billion from $16.87 billion in 2021. Bangladesh is now the largest supplier of readymade garments to the EU. The overall EU apparel import figure in 2022 stood at $102.09 billion, a YoY growth of 20.97% from $85.23 billion in 2021.

China, the top apparel supplier to the EU, achieved a YoY growth of 17.01% to $30.14 billion in 2022, up from $25.76 billion in 2021. Turkey and India also witnessed growth rates of 10.09% and 21.02%, respectively. Meanwhile, Vietnam saw a 35.28% growth in its apparel imports to the EU, with Pakistan, Cambodia, and Morocco also witnessing significant YoY growth rates.

The unit price of apparel items also increased by 11.95% to $17.27 per kg, with Bangladesh's unit price remaining the second-lowest among the top ten suppliers, ahead of only Pakistan. In comparison, China, Turkey, India, and Vietnam all saw their unit prices grow, with China's unit price at $23.09 per kg, the highest among the top ten suppliers.

Manufacturers have noted that Bangladesh's cost of manufacturing has not gone up, but the apparel sector is facing inflationary pressures and high production costs due to the ongoing Russia-Ukraine war. Despite this, manufacturers remain optimistic about Bangladesh's future prospects in the apparel sector, with the country's growth rate outpacing China's. Bangladesh holds a 23% market share, and its position as the largest supplier of readymade garments to the EU is expected to continue to grow.