China has seen a large number of clothing orders canceled by international buyers in the wake of the COVID-19 pandemic and the U.S.-China trade war, with many of these orders having been transferred to Bangladesh, the world’s second-largest garment processing exporter.
Ahsan H. Mansur, executive director of the Bangladesh Policy Institute, said that Bangladesh is expected to overtake China and become the EU’s largest garment exporter.
According to Eurostat data, in the first nine months of 2022, Bangladesh’s apparel exports to the EU reached $19.4 billion, a year-over-year increase of nearly 42 percent, while China’s exports in the same period grew about 22 percent to $25.5 billion….