Despite current challenges, Bangladesh's garment shipments to the European Union (EU) showed impressive resilience in the January-April period, with exports rising 23.98% to $8.07 billion compared to $6.51 billion last year, according to Eurostat data. This growth positions Bangladesh close to overtaking China, which exported $8.39 billion to the EU during the same timeframe, reflecting a 21.49% increase. The favorable zero-percent duty under the EU's Generalised Scheme of Preferences (GSP) for least developed countries (LDC) has benefited local suppliers. Bangladesh has already surpassed China in volume for certain categories like trousers and denim in both the EU and US markets. Amid geopolitical tensions, currency fluctuations, and high inflation in the West, Bangladesh's apparel exports have thrived, alongside an overall 14.21% increase in EU garment imports. Other countries like India, Pakistan, and Cambodia also experienced significant growth rates, while Turkey saw a decline in exports. Industry leaders, like Faruque Hassan of Giant Group and Vidiya Amrit Khan of BGMEA, attribute Bangladesh’s success to higher unit prices and improved buyer confidence, indicating that with sufficient energy and political stability, growth in exports can continue. However, China's export capacity remains significantly higher. (ICE NEW DELHI)

Fonte notizia: The Daily Star