In recent months, Bangladesh has engaged in a heated competition with China for the top spot in export earnings from readymade garments in the United Kingdom.
According to UK Government trade statistics, Bangladesh surpassed China four times in the January-November period of 2023, temporarily claiming the lead in January, March, April, and May.
While Bangladesh maintained its position as the second-largest apparel exporter in the UK in terms of value, it has consistently held the top spot in terms of volume since 2022, following China.
Despite a decline in overall apparel imports by the UK due to high inflation, Bangladesh’s competitive pricing allowed its export share to increase in the market.
In the January-November 2023 period, Bangladesh’s apparel exports to the United Kingdom experienced an 11.58 per cent decline, totalling £2.63 billion, compared to £2.98 billion in the same period of 2022, according to UK data.
During the same period, the UK’s apparel imports from China also dropped by 22.93 per cent to £2.83 billion, down from £3.68 billion in 2022.
Faruque Hassan, the president of the Bangladesh Garment Manufacturers and Exporters Association, expressed expectations for an increase in Bangladesh’s apparel exports to the UK.
