The value of Bangladesh's apparel shipments to the EU rose by 4.86 per cent to $19.77 billion in 2024. The volume of the country’s apparel exports to the EU also increased by 10.18 per cent from the previous to 1,230.51 million kg.

However, the price per kilogram decline by 5 per cent, from $16.88 in 2023 to $16.07 in 2024.

EU's overall apparel imports increased in value by 1.53 per cent to $92.56 billion, while import volume grew by 8.98 per cent, as reported by Eurostat.

This resulted in a 6.83 per cent decline in average unit prices, affecting major suppliers like Bangladesh, according to Mohiuddin Rubel, Denim Expert.

China remained the top apparel exporter to the EU, followed by Bangladesh, Turkey, and India. All these countries, along with Vietnam and Cambodia, also saw price declines.

While Bangladesh maintained its position as a key EU supplier, the lower prices raise concerns about profitability amid global price reductions.

Falling prices make it harder to maintain profits, notes Rubel. Increased export volume and value were supported by producing higher-value garments, duty-free access, workplace safety, and the efforts of manufacturers and workers. These factors increased buyer confidence and strengthened Bangladesh's position in the export market, adds Rubel.

Although exports in 2024 were better than 2023, they were still below 2022 levels.

According to Rubel, while Bangladesh has shown resilience, it needs to shift strategies for future growth. The country can remain competitive and protect profit margins and global price declines by adding value to the products and diversifying markets, he adds.