Although Bangladesh's exports of ready-made garments to the European Union (EU) increased by 4.86 per cent year-on-year to $19.77 billion last year, exporters noticed a decrease in unit prices as the growth in volume outpaced the growth in exports.

According to Eurostat data, Bangladesh exported 1.230.51 billion kg of ready-made garments to the EU this year, up 10.18 percent from 1.116.77 billion kg in the previous year.

The unit price for 2024 fell by as much as 5 percent to $16.07 per kilogram from $16.88 in the previous year.

At the same time, the EU's overall clothing imports increased by 1.53% year-on-year to reach $92.56 billion by 2024, and imports increased by 8.98% year-on-year.

This resulted in a 6.83 per cent drop in average unit prices, affecting major procuring countries including Bangladesh.

China remains the EU's largest apparel exporter, with exports rising 2.61% year-on-year to $26.07 billion in 2024. Bangladesh ranked second, followed by Turkey and India.

Unit prices also fell in all four countries, as well as Vietnam and Cambodia.

Bangladesh has maintained its position as a leading supplier to the EU market, but the drop in unit prices highlights the need for a strategy to address profitability in the context of global price cuts, according to Bangladeshi media.

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